Hiving off realty biz will add value to investors: Marg

Chennai-based Marg Ltd has hived off its residential projects business to its wholly-owned subsidiary Marg Properties. Marg Properties was launched a year back to to handle residential projects of real estate business. The board approved hiving off the residential projects through a postal ballot mechanism.

In an interview with GRK Reddy, Chairman & Managing Director of Marg spoke on the purpose of hiving off the residential real estate business. Below is a verbatim transcript. Also watch the accompanying video. Q: What exactly you are contemplating, what are the projects you are transferring to, is this is a new subsidiary Marg Properties? A: Marg Properties is a 100% subsidiary of Marg Ltd. So primarily it will take care of all the property business which are in Marg Group because Marg as a parent company is into EPC and it has investment in the port business. We have about 12 projects at various locations in Chennai and mostly in the affordable segment. We want to take all these 12 projects into a separate company. Q: What is the exact size of this real estate business and do you have any plans to list Marg Properties? A: No, at the moment we don