Friday, July 18, 2008

POLARIS EYEING REALTY FORAY

Chennai

Banking software company Polaris Software Lab Ltd has decided to get into the real estate business, subject to regulatory approvals.

A decision to this effect was taken by the company’s board here on Thursday. While Polaris executives were not available to comment on the diversification, sources close to the development said that the company has some surplus land in Gurgaon near the national capital after building its software development centre.

With land prices going up Polaris has decided to cash in, sources said. The company will be partnering with a real estate developer.

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