Janapriya Projects ties up with Finnish firm

Janapriya Projects, a special purpose vehicle between Janapriya Engineers Syndicate and Kotak Reality, on Thursday entered into a technology tie up with Finnish major Elematic, for setting up a pre-cast construction unit at its integrated township project coming up at Sainikpuri in Hyderabad.

Elematic is considered one of the pioneers in pre-cast construction technology.

“The walls are pre-cast at the plant and shifted to the project and mounted. The plant allows the flexibility to design the walls to various specifications, including external design elements. Pre-cast technology is a tried and tested approach to construction all over the world. It is nascent in India real estate. We believe more companies would take this approach,” said K Ravinder Reddy, chairman and managing director of Janapriya Engineers Syndicate.

Addressing a press conference, Reddy said the company is now executing four realty ventures in Hyderabad, two of them by forming SPVs.

"One is with Kotak Reality and another project is with Sun Apollo Group. The project with Kotak, spread over a 32 acre site with 2,000 apartments, will see an investment of about Rs.700 crore. The company closed with Rs 200 crore revenues last year. We are in the process of finalising plans for projects in Bangalore and Chennai,” he said.

Petteri Laitinen, sales director, Elematic, said the company has so far partnered for four plants with VME Precast, Janapriya, BE Billimoria and another one recently.

Finland, a country with a population of 5 million, has 50 pre-cast construction units. Discussions are under way for more such plants.