Thursday, July 17, 2008

PARSVNATH TO INVEST RS 400 CRORE IN NANOCITY PROJECT

Posted by Archat | Thursday, July 17, 2008 |

New Delhi

Parsvnath Developers Ltd said on Wednesday it will invest Rs 4 billion in the Nanocity project in north India and take a 38 percent stake in it.

The project is valued at Rs 500 billion.

The Haryana government will hold 10 percent equity stake in the project, while the remaining stake will be held by a group promoted by Sabeer Bhatia, the founder of Hotmail.

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