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Maytas Properties looks for Rs 150-200cr funding
October, 01st 2009

After Maytas Infrastructure was officially handed over to IL&FS on September 29, the attention has now turned to Maytas Properties. CNBC-TV18 learns that the board of Maytas properties is likely to come out with a solution for its real estate project Hill County in a couple of weeks.

The government nominee on the board of Maytas Properties, Ved Jain said that the company was looking for funding worth around Rs 200 crore for which he would seek help from banks and other investors. Here is a verbatim transcript of Gopika Gopakumars comments on CNBC-TV18.

Ved Jain, the government nominee on the board of Maytas Properties, when quizzed whether Maytas properties would go the Maytas Infra way, he said there was no contemplation about a change in management at this point in time and that the board including the promoters were working on a solution to complete their real estate project which is Maytas Hill County.

He said that around 700 families had invested around Rs 800 crore in this project and the obligation was to complete this project. He also said that the company was looking for funding worth around Rs 200 crore for which he would seek help from banks and other investors.

I met a very emotional Teja Raju and we spoke at length on a plethora of issues including his brother Rama Raju and he said that they were currently working on completing the Hill County project and reassured that a solution would come up in the next few weeks.

 
 
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