Last weekend, we visited a proposed construction site near Panvel. They have just done Bhoomi Pujan and the plans are getting a final sanction. The location is amidst good population but the area is not developed. With Airport coming near by, this is right to invest there. Once we have the final design, we will make a decision. We are likely to invest. One of the friend is also referring a Project in the outskirts of Pune. Let's see.
If I do go ahead, the surplus cash will be absorbed. We are close to opening the Loan Against Securities account with ICICI Bank so fund should not be a problem. However, with IPO Investment returns turning out so low, I am not sure if it would continue making sense.
Today, we exited from MRO Tek & Manugraph & bought more of IFCI, Aditya Birla Chemicals, Shriram Transport & entered in 3I Infotech.
Happy New Years to All.
Regards, Rohit
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