Mahindra Gesco Developers

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Mahindra Gesco Developers was created as a result of the merger of GESCO Corporation Ltd. and MRIDL in the year 2001. The company has helped in the establishment of special economic zones and also led to the creation of 2 structured business cities called Mahindra World City at New Chennai and Jaipur.

Facts about Mahindra Gesco Developers:

The Mahindra Gesco Developers has joined hands with the International Finance Corporation, Washington to work on projects dealing with water supply. Mahindra Gesco Developers has decided to supervise a water-project along with the other major players in the real estate business, and this project will be wholly developed by the private sector. The performance of Mahindra Gesco Developers has been impressive enough to its acknowledgment with the ISO 9001:2000 certification from BVQI.

Projects of Mahindra Gesco Developers:

The company has been able to attain consistent growth in varied sectors such as construction, design, and development. Mahindra Gesco Developers is engaged in the construction and development of a number of projects now, both in the commercial and residential sectors. Some of the commercial and residential projects being developed by the company at the moment include the following:

s The projects under the Commercial Sector are:
  • Mahindra Towers, Delhi
  • HDFC Bank, Chennai
  • GE Galleria, Navi Mumbai
  • GE Plaza, Bangalore
  • GE Plaza, Pune
The projects under the Residential Sector are:
  • Central Bank
  • Fairwinds
  • Mahindra Park
  • Belvedere Court
  • The Great Eastern Retreat
  • The Nest
  • Le Mirage
Joint Ventures of Mahindra Gesco Developers:

Mahindra Gesco Developers is in the process of joining hands with international real estate companies to upgrade the quality of its services and start a series of modern projects in India. The international companies which have entered into a venture with Mahindra Gesco Developers are Semb Corp of Singapore and Knight Frank of U.K. These companies are the major players in the international real estate sector. The persons who are responsible for helping Mahindra Gesco Developers in reaching the apex of its development are Mr. Arun Nanda, the head of the company and Mr. Pranab Dutta, who looks after the management of the company.

Financial position of Mahindra Gesco Developers:

In a meeting held recently by Mahindra Gesco Developers, a dividend of 15% to its share holders had been announced. The company is showing a slight downfall in net sales figures presently, from ` 424.40 million in 2006 to Rs.340.30 million in 2007. The total income has also slipped from ` 429.8 million in 2006 to Rs.371.4 million in 2007. Mahindra Gesco Developers is now heading for the development of its biotechnology sector which will require an investment of Rs.150 crore and 72 acres of land in Mumbai.

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Last Updated on 06th June 2011

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