IVRCL Assets & Holdings company was incorporated as IVR Realtors on June 28, 1996 by E Sunil Reddy and E Sudhir Reddy. The name of the company was later changed from ‘IVR Realtors’ to “IVR Prime Urban Developers, and was again changed from IVR-Prime Urban Developers to IVR Prime Urban Developers on June 12, 2006. In 2011 Company changed its name from IVR Prime Urban Developers Ltd. to IVRCL Assets & Holdings Ltd.
IVR Prime Urban Developers was set up
IVRCL Assets & Holdings company was incorporated as IVR Realtors on June 28, 1996 by E Sunil Reddy and E Sudhir Reddy. The name of the company was later changed from ‘IVR Realtors’ to “IVR Prime Urban Developers, and was again changed from IVR-Prime Urban Developers to IVR Prime Urban Developers on June 12, 2006. In 2011 Company changed its name from IVR Prime Urban Developers Ltd. to IVRCL Assets & Holdings Ltd.
IVR Prime Urban Developers was set up with the express intent of entering into mega projects in luxury urban infrastructure. It is presently engaged in the business of urban infrastructure development. It is a real estate development company focusing on integrated townships, residential developments and commercial projects, including hotels, retail malls, information technology (IT) parks and other projects in various parts of India. During the fiscal year ended March 31, 2008, the company’s business was only within India.
It follows the strategy of identifying areas of development early in the lifecycle. Growth thereafter will come through a combination of innovative marketing, aggressive selling, business development & planning and an economic production process, all within the framework of sound financial controls.
The projects of the company are located across the country, having major presence in the following cities.
- Hyderabad- Hitec City Project (residential and commercial), Hill Ridge Project (commercial) and Hill Ridge Springs (residential).
- Bangalore- Projects at Jigani; Green Vista, Whitefield Apartment; Whitefield Kudlu, Hosur Road; and a commercial project at Prime Lake, Begur
- Chennai- Two commercial/residential projects at Prime Celestial, Vayalur and Prime Pacific, Sriperumbudur
- Vishakapatnam –three residential projects
- Pune- Three projects
- Noida – Prime Zinnia
- Nagpur-Prime Fressia
In 2010 IVRCL Infrastructure Projects group launched a 700-acre golf-centric township project in the name of 'Aavisa' in Chennai
About 3241 acres with a saleable area of 85 million sq ft is to be developed in various projects across the country.
Subsidiaries-The company’s holding company is IVRCL Infrastructures & Projects. The other wholly owned subsidiaries of the company include IVRCL Mega Malls, Agaram Developers, Pappankuzhi Developers Private, Mummidi Developers, Sammateri Developers and Velursantha Developers.
Milestones Achieved
- February 2001 - Commencement of construction of the national games village project through the company.
- December 2002 - The company associated with the government of Andhra Pradesh to host the 32nd National Games.
- July 2006 - Commencement of the execution of the mall project.
