In order to ensure sufficient fund flow to its ongoing and upcoming infra projects, Emami Group, has decided to consolidate its realty arm into a single listed entity, to unlock value and raise funds from the market to fund its ongoing projects. Zandu Realty (ZRL) is being merged into Emami Infrastructure (EIL), which has been on a project construction track and is currently implementing projects entailing an investment of Rs.4,500 crore, director and chief finance officer of EIL, Girija Choudhary, said adding that the merger will imply a flow of funds from ZRL into the former, helping project funding. EIL is developing properties in Kolkata, Chennai, Coimbatore, Jhansi, Bhubaneswar and Indore in its individual capacity and two projects each in Mumbai and Hyderabad are being executed in alliance with partners, he added.
📅Published on:
12 July 2017
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