D S Kulkarni develops nine projects for Rs 555 cr

Kolkata, Apr 20 (UNI) D S Kulkarni Developers Ltd has planned to develop nine projects at various sites in Mumbai, Pune and Bangalore at an estimated cost of Rs 555.23 crore.

The projects comprise over 39 lakh square feet under construction. The projects would be handed over to the consumers by 2009, company's chairman and managing director D S Kulkarni said here today.

The company has already deployed Rs 115.79 crore and tied up with banks for funds of around Rs 250 crore, Kulkarni said.

The company is expected to raise around Rs 200 crore through its public issue which opens on April 25.

The DSK group has constructed more than 15,000 homes totalling 1.25 crore square feet in Mumbai and Pune and hopes to maintain growth rates riding on the boom in the real estate sector, he said.

The company reported Rs 11 crore net profit for the nine months ended December 31, 2005, as compared to Rs one crore in the corresponding period previous year.

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