Kerala: Beta Group to pick up 10% stake in Anta Builders
Beta Group
has announced picking up a 10% stake in the state-based property developer
Anta Builders
at a valuation of Rs 550 crore, extending its business interests into real estate and infrastructure space. The Group is engaged in commodity trading and food products, among others and its investment in Anta Builders is a strategic one, the company said in a statement.
The move marks a significant milestone for both firms, laying the groundwork for a broader collaboration aimed at scaling operations and driving innovation in India's
urban development
sector, the statement added.
Beta Group director Rajnarayan Pillai and Anta Builders managing director Midhun Kuruvila Kurien signed an MoU in Thiruvananthapuram on Tuesday in the presence of
Kirloskar Industries
managing director George Varghese and Beta Group chairman Rajmohan Pillai.
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Beta Group will also join the Board of Directors of Anta Builders. 'This partnership reflects our strategic intent to participate meaningfully in India's urban transformation journey,' a Beta Group spokesperson said.
The collaboration is expected to enable both entities to jointly raise Rs 500 crore for real estate and infrastructure development projects across the country. The focus will be on expanding into high-growth urban centres such as Bengaluru, Hyderabad, Pune, Mumbai, and Gurugram, the statement said.
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With several ongoing projects across Kerala, Anta Builders is well-positioned to leverage this partnership to emerge as a national player in the real estate and infrastructure sector, it said.
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