The 100-year-old Chennai-based business house, TVS Group, known for its expertise in auto, auto components and finance, is planning to take a plunge into low-cost housing. It will do so through TVS Housing, a 100 per cent arm of TVS Motor Company, which would debut through a pilot low-income housing project at Nanmangalam, near Sriperumbudur, 50 km from Chennai.
About 2,500 flats would come up on 28 acres at Nanmangalam. The broad plan is to sell flats, of sizes 385-500 sq ft, at prices ranging from Rs 7 lakh to Rs 10 lakh. The company plans to build 20,000 affordable dwellings and achieve a turnover of Rs 1,000 crore in the fifth full year of operation.
TVS Housing was incorporated on March 22, 2010. The TVS Group acquired the entire paid up capital of Rs 5 lakh of TVS Housing and it became a wholly-owned subsidiary of the company effective June 21, 2010. The TVS group, with a combined turnover of over $4 billion, has of late ventured into new areas like non-conventional power and venture capital.crackcrack
Company Name | CMP |
---|---|
Bajaj Auto | 9068.10 |
Hero MotoCorp | 5041.90 |
TVS Motor | 2134.25 |
Eicher Motors | 4726.15 |
Atul Auto | 561.35 |
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