Srinivasa Shipping and Property Development Ltd

Srinivasa Shipping and Property Development Ltd moved to Rs.28 before cooling down a bit. This is a wonderful company which was recommended by me in a number of occassions. Srinivasa Shipping and Property Development Ltd (SSPDL) is a three city Real Estate play on Bangalore, Hyderabad and Chennai markets, where a property boom is going on.
SSPDL is a property development company primarily developing commercial (IT parks, Shopping Malls, Hotel projects, service apartments etc) and residential properties (gated communities, villas, apartments and serviced plots) in Chennai, Bangalore, Hyderabad and Kerala.
The business model is as follows:
(a) The Company purchases land and develops it based on market needs
(b) The Company takes land on development from the landowners and shares the developed property with the landowner in a particular ratio and
(c) The Company takes on third party construction contracts in the building sector.
The projects on hand are:
-Bangalore Retreat - December 2009
-OMR Mixed Development Project, Chennai - September 2010
-OMR Residential Project, Chennai - December 2009
-Hyderabad Retreat, Hyderabad - December 2012
-The Retreat, Kallar Valley, Kerala - Dec 2010
The value of projects under execution exceeds Rs.2250 crore with over 7 Million Sq. ft of Built Up Space aggregating to a Sale Value of Rs.1800 Crores Plus in various stages of execution.
SSPDL has also announced plans to take up the following projects:
-Gundla Pochampally/Kompally, Hyderabad - a 40+ acre residential gated community
-Bangalore-Mysore Highway Project - a 60+ acre residential community
- Montieth Road Property Chennai - Office space.
The Retreat, Hyderabad has an SEZ as an integral part of the project. SSPDL has appointed Surbana, the Singapore based architects for this project and currently planning is underway. The earliest revenues will be recognized from 3rd quarter of 2008 (or in Q3FY09).
At Kallar Valley in Kerala SSPDL has acquired about 325 Acres of pristine Plantation Land with natural forest and waterfalls, springs etc. The site is located in the Hills and is a 2 hour drive from Kochi Airport.
SSPDL intends to put up a 20 acre world class resort with a Hospitality Partner. Besides this it will promote Vacation Homes of super luxury quality by invitation. In addition, the Company has been awarded construction contracts aggregating to Rs.78.20 Crores for the following works from third parties.
(i) Construction contract with NBCC, Hyderabad for construction of 1.5 lakh sq feet office building.
(ii) Construction contract of warehouse for SAIL Ltd at Vizag.
(iii) Construction contract for TCG IT Park, Chennai.
(iv) Construction contract for 50 villas for Ferns-Regalia Realty Ltd, Chennai.
2. SSPDL Infrastructure Developers Pvt Ltd, a SPV held jointly by the Company together with Innovative Realty Opportunity Fund Ltd have entered into a sate agreement with Accor Group of Hotels for hotel space in "The Promenade" Project, at Egattur, OMR, Chennai.
3. SSPDL Ltd and Indiareit Fund Advisors Pvt Ltd through their SPVs have acquired 42 acres in Gundtapochampalty village, Hyderabad to develop a gated residential villa community "SSPDL Northwoods". Total estimated project value is Rs 250 crores.

source : sumanspeaks