Parle Software to invest Rs 100-125cr in infra, realty dvpt

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Parle Software to invest Rs 100-125cr in infra, realty dvpt

Parle Software has acquired 45.83% stake in Hazoor Township Developers (P), which is a subsidiary of Hazoor Multi-Projects. In an exclusive interview with CNBC-TV18, Vikas Shukla, Managing Director, Parle Software, spoke about the company’s future prospects and his outlook for the sector.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See latest News about Parle Software See previous management interviews See what other Experts & Brokerages are saying about Parle Software Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty?

Parle Software has acquired 45.83% stake in Hazoor Township Developers, a subsidiary of Hazoor Multi-Projects.

In an exclusive interview with CNBC-TV18, Vikas Shukla, Managing Director, Parle Software, spoke about the company's future prospects and his outlook for the sector.

Below is a verbatim transcript.

Q: How are you getting into real estate, you have bought some land, how have you made this investment and how much is it?

A: We are planning to invest Rs 100-125 crore in real estate and infrastructure development over a span of two to three years.

Q: You have acquired 49% of a company called Hazoor Township-so how much money have you paid right now as we speak and since it's a 49% investment, can you really consolidate any earnings from this company?

A: We have acquired about 46% stake in Hazoor Township Developers and this is the subsidiary of Hazoor Multi-Projects Ltd.

Q: you said that you are planning to spend Rs 125 crore over the next three years. Last year you had made a sales revenue and your net profit is negative. How will you be making such money, you have been making losses in the April and July quarter and perhaps a very tiny profit in the last quarter, you mean Parle Software will bring in Rs 125 crore of money?

A: Yes the company will do and it will also borrow from our associates.

Q: How much will the company be able to lend when you are in losses yourself?

A: Since we have about 46% in the real estate major, they will carry out these activities and if possible we would also borrow from the market etc.

Q: At the moment to buy this 46% of the stake in Hazoor Township, how much did you pay?

A: We paid about Rs 45 lakh.

Q: So that is all you have to invest right now for a 46% interest, when does the next tranche go out and since your company itself doesn't have money where are all you getting it from or is this all a reverse merger so basically we are putting a project in a listed company?

A: Right now we have just acquired the stake; the projects are in initial stage.