Regliaa Realty Limited
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BSE Code:
530807
NSE Code:
REGALIAA
Business Profile
Business Profile
Regaliaa Realty (REGALIAA), incorporated on Oct. 19, 1994, was set up as a real estate development company. Earlier known as Sudsun Housing Development (India), it acquired its present name on Dec. 27, 2005.
Business activities included designing, developing, constructing and marketing apartments, semi-independent houses, independent houses, information technology parks, malls, and service apartments. The company has been focusing on middle income housing with the idea of tapping the large and stable market that this segment offers. Customers include people from foreign countries and NRIs besides residents of India. Completed projects at Kilpauk, Harrington Road, Indira Nagar, and T. Nagar in Chennai cover a total built- up area of more than 0.5 million square feet.
The Ferns is the company`s flagship project, a complex consisting of 45 villas/row houses. A new 15,000 sq. ft. serviced apartment complex has been taken over on the Nungambakkam High Road in Chennai to commence its serviced apartment business under the brand name Homcourt. It has entered into an agreement to develop residential apartments in Perungudi, a memorandum of understanding (MOU) for construction of international standard serviced apartments in a central location in Hyderabad, and a MOU with leave agreement for setting up a serviced apartment complex in Whitefield, Bangalore.
The registered office is at 10, Tarapore Avenue, Harrington Road, Chennai-600031.
Financials
Regaliaa Realty registered a loss of Rs 3.81 million for the quarter ended September 2008.
It recorded a net sales of Rs 1.07 million for the quarter ended September 2008.
Total income was Rs 1.16 million for the quarter ended September 2008.
Recent Developments
01-AUG-08
On Jul. 28, 2008, the board of directors transacted the following business:
-The board discussed in detail the proposal to lease a property in Jubilee Hills, Hyderabad to be built as per its specifications and operated under the company`s registered brand name Homcourt. The complex will have 27 apartments of international standard in Phase I and a total of 45 after Phase II under lease for a period of 15 years.
-The board also discussed a proposal for putting up a budget hotel on the well known East Coast Road, Chennai which has several tourist attraction points. The company has decided to move ahead and complete formalities for leasing a 1.5-acre land to put up a budget hotel with 100 rooms and two food and beverage outlets. The location of the site is strategically located and should be a great success with budget travelers.
02-JAN-07
The company entered into an agreement for the development of a gated community consisting of 48 villas in an extent of 6.6 acres off the East Cost road, very close to the IT corridor. The estimated revenue from this project will be over Rs 450 million and the project is likely to be completed in 18-24 months.
Future Plans
In May 2008, a memorandum of understanding and a leave agreement were signed with Lumbini Constructions of Hyderabad for setting up a serviced apartment complex in Whitefield, Bangalore. The lease agreement is for a period of 15 years consisting of 90 serviced apartments along with other facilities like a restaurant, fitness center, SPA and business center spread over a total built-up area of 86,000 square feet. The company is required to carry out the interior designing, furnishing, and other work at an estimated cost of Rs 45 million and will be able to meet the entire cost from internally generated funds.
Earlier, the company entered into a MOU for the construction of international standard serviced apartments in a central location in Hyderabad. The complex will have 43 service apartments with a fitness center, conference room, board room, business center, and other associated facilities.