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Dec 28, 2006, 04.08 PM IST
Nandkumar Harchandani, MD of Linkhjouse Industries says they are planning a big size township of around 100 acres in Nagpur.
Linkhouse Industries is a construction and real estate development company with 250 acres of land in its kitty, and has given YTD returns of 210%. Managing Director of Linkhouse Industries , Nandkumar Harchandani informs that the company has planned more than 100 acres of townships in Nagpur, which is likely to cost them Rs 600 crore.
Excerpts from CNBC-TV18's exclusive interview with Nandkumar Harchandani:
Q: What is your main line of business and how much of development projects you have?
A: At present, we have a plan of a big size townships, which are more than 100 acres. This year, the government of Maharashtra announced foreign investments in B-size cities including Pune, Nagpur.
Nagpur and areas surrounding Nagpur are attractive now. So for the first time, we have planned more than 100 acres of townships.
Q: So will this planning be in Nagpur?
Q: How much of land do you own?
A: We are already into an agreement and have 250 acres in two projects.
Q: 100 acres is in Nagpur, where is the other piece of land?
A: Both are in Nagpur.
Q: When are you likely to complete development of this project?
A: The first phase is in two years.
Q: How much is it likely to cost you?
A: More than Rs 600 crores.
Q: How are you planning to raise this money?
A: We are negotiating with foreign investors and banks.
Q: Are you looking at raising debt or equity going forward?
A: We have not yet planned that.
Q: What was your year-end profit last year?
A: In the past years, our profits have been improving and this year, we are expecting more.
A search on the BSE website did not show up the results of Link House Industries for the latest quarter. CNBC-TV18 only has the results of the September 30 quarter ended 2005 when the company had posted a profit of Rs 30 lakh. The latest results are not available on the website and the company also did not give any results now either.
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