Rajeswari Foundations forays into infrastructure development segment

Chennai-based Rajeswari Foundations (RFL) has made an entry into infrastructure development segment and has tied-up with a Mumbai-based civil, engineering and electrical contract company to introduce cutting edge technologies in project development.

The company is looking to develop integrated-campus like townships in Chennai.

RFL’s first township is coming up at Singaperumal Koil, near Mahindra City, Chingleput, at a total built up area of 7.20 lakh sq. ft. Conceived as an integrated-campus with world-class amenities for shopping, education, entertainment and healthcare, the township will address the unique work and lifestyle requirements of software professionals and non-resident Indians, the company said in its filing with the BSE.

The first phase of the township, coming up in 3.60 lakh sq.ft, will house 15 bungalows, each with a built up area of about 1500 sq.ft., backed by state-of- art telecommunication networks, transportation facilities, school, health club, swimming pool and multiplexes.

The township will draw power from the state grid with 100% on site power backup.

The company believes that there is huge role for private capital and management in infrastructure projects.

It has reported around 15 % rise in its net income for the financial year ended March 31, 2009, which stood at Rs 0.6269 crore against Rs 0.5455 crore last year.

RFL is a leading player in building independent bungalows in Chennai. The company which was originally engaged in pricing and publishing, diversified into civil construction in the year 2003.