Media Video a 20 year old Delhi based company into Consumer Electronics, is diversifying into Real Estate in a very big way. Recently company mgt, has announced :
|Media Video Ltd has informed BSE that the Company, under its real estate division is developing a 124 acres modern Township in Yamuna Nagar, Haryana, with a total saleable floor space of 6 Million Square Feet approx. The renowned real estate consulting firm – Trammell Crow Meghraj Property Consultants Pvt Ltd has already studied the project and the feasibility report submitted by it to the Company projects revenue of Rs 606 Crores from an investment outlay of Rs 405 crores.The township, named MVL Rivercity, will include both, commercial as well as residential premises. The residential part will include built-up villas, freehold plots and a premium residential complex with a total saleable area of Rs 5.5 million sq. ft. The commercial part of the city will have a saleable area of 0.50 million sq. ft approximately and will include a lifestyle shopping mall and a state-of-the-art budget hotel. The said project shall be completed in two phases – 93 acres of the total area will be developed in the first phase, slated to begin by the end of June’07 and the balance 31 acres in the second phase, to be launched by the 2nd Qtr of 2008.
The land for the same has already been acquired.
Further the Company has informed that the Company presently has projects worth Rs 19.99 billions, spread across the country. Apart from the above, the Company has 2 residential projects in Bhiwandi and two IT Parks in Gurgaon among others.
Media Video with a market cap. of just Rs. 175 crores ( CMP of Rs. 50 ) is developing Real Estate Projects worth about Rs. 2000 crores which whould give a Net Return of about Rs. 500- Rs. 600 crores in the next 3 years. The company is merging its other companies with the Real Estate company :
Media Video Ltd has informed BSE that the Board of Directors of the Company at its meeting held on December 02, 2006, inter alia, has taken the following decisions:1. To demerge the Real Estate Division of the Company into MVL Infrastructure Ltd.2. To merge its 100% subsidiary- Smart Buildwell Pvt Ltd engaged in Real Estate Business into MVL Infrastructure Ltd.3. To merge Six Associates / Group / Promoter Companies, which are developing a Township in Yamuna Nagar, Haryana into MVL Infrastructure Ltd.
Thus the shareholders of Media Video shall get shares of :
Thus the shareholders of shall get shares of :
- Media Video : Consumer Electronics company with expected top line of Rs. 250 crores and bottom line of about Rs. 12 crores, for FY 08 with an EPS of Rs 3
- MVL Infrastucture Ltd : The company with its present Rs. 2000 crorres worth of Real Estate Development projects is going to be a big wealth creator for the shareholders.
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