Century Real Estate

Last updated

Century Real Estate Holdings Private Limited
Company typePrivate company
IndustryReal estate
Founded1973
FoundersP. Dayananda Pai and P. Satish Pai
Headquarters Bangalore, Karnataka, India
Area served
India
Key people
P. Dayananda Pai and P. Satish Pai, founders; P. Ravindra Pai, (managing director)
ProductsResidential, commercial, hotel, educational institutions, integrated township spaces and plotted developments
ServicesHome loan assistance, interior solutions, electrical fit outs, bathroom accessories fit outs, rent, and resale
Website www.centuryrealestate.in

Century Real Estate Holdings is a privately held Indian real estate and construction company, founded in 1973 and headquartered in Bengaluru, Karnataka.

Contents

History

Century was founded in the year 1973 by Dayananda Pai and Satish Pai with the primary objective of buying, developing and selling land in Bangalore. They started in 1976 with plots near M.G. Road, Bengaluru and has expanded in various geographies since then. Century is associated with several of Bangalore's landmark developments such as Manipal Centre, Taj Residency, Vijaya Bank Headquarters and Diamond District among others.

IIMB-Century Real Estate Research Initiative

Indian Institute of Management, Bangalore IIMB has teamed up with Century Real Estate Holdings (CREH) to acquire data and conduct scientific research on the Indian real estate sector. The research initiative creates a bridge between the industry, government, and academia.

A memorandum of understanding was signed by IIM-B and CREH in 2012. The primary investor in the initiative is Century Group and IIM-B contributes by way of administrative and research work. [1] [2]

Academic and practitioner journals publish the data collected from the research, to offer policy prescriptions and guidance to the Indian government and industry stakeholders on important issues related to the real estate sector. [3]

Funding

In 2011, Century raised INR 2 billion from Kotak Realty Fund, a part of Kotak Mahindra Group.[ citation needed ]

In 2013, the Indian NBFC arm of worldwide investment giant The Xander Group Inc., Xander Finance, invested $8 million (INR 49 crore) in Century Real Estate. The mode of this investment senior was secured non-convertible debentures. [4]

In 2015, Century Real Estate has raised INR 1.65 billion through non-convertible debentures to fund a residential development and plotted development. The names of the projects are Century Ethos and Century Eden. The working capital for these projects was funded by ECL Finance, the non-banking arm of Edelweiss Financial Services Limited. [5]

Activities

Four Seasons

Century has teamed up with Four Seasons to build a 7-star hotel in an estimated budget of INR 9.57 billion. During the Global Investors Meet in 2010, a memorandum of understanding with the Karnataka government was signed by Century with regard to this project. [6]

Philanthropy

Named after the founding members of the company, the P. Dayananda Pai & P. Satish Pai Trust drives social and humanitarian reform by providing medical facilities, infrastructure, and educational opportunities to a wide range of people.

Bangalore, also known as Bengaluru, is the capital of the Indian state of Karnataka. In recent years, the city has seen a significant increase in real estate development, with many new residential and commercial projects being built. The city's growing population and strong economy have made it a desirable location for both locals and expatriates, driving demand for housing.

Related Research Articles

<span class="mw-page-title-main">Indian Institute of Management Bangalore</span> Management school in India

Indian Institute of Management Bangalore is a reputed business school and an Institute of National Importance located in Bangalore, Karnataka, India. Founded in 1973, it was chronologically the third in the first generation of IIMs to be established, after IIM Calcutta and IIM Ahmedabad, thereby forming the elite Indian B-School trio colloquially known as 'ABC', or 'IIM A/B/C'.

<span class="mw-page-title-main">State Highway 87 (Karnataka)</span> State Highway in Karnataka, India

Bannerghatta Road is an Indian State Highway in Karnataka. It connects Bangalore with the towns of Bannerghatta, Jigani, and Anekal. It extends for 49 kilometres (30 mi). It starts as a branch from Hosur Road near the Adugodi Christian Cemetery and ends at Anekal.

<span class="mw-page-title-main">Kiran Mazumdar-Shaw</span> Indian entrepreneur (Biocon), billionaire

Kiran Mazumdar-Shaw is an Indian billionaire entrepreneur. She is the executive chairperson and founder of Biocon Limited and Biocon Biologics Limited, a biotechnology company based in Bangalore, India and the former chairperson of Indian Institute of Management, Bangalore. In 2014, she was awarded the Othmer Gold Medal for outstanding contributions to the progress of science and chemistry. She was on the Financial Times 2011 top 50 women in business list. In 2019, she was listed as the 68th most powerful woman in the world by Forbes. She was named EY World Entrepreneur Of The Year 2020. She was married to John Shaw.

<span class="mw-page-title-main">Devanahalli</span> Town in Karnataka, India

Devanahalli, also called "Devandahalli", "Dyaavandalli", Devanadoddi, and Devanapura, is a town and Town Municipal Council in Bengaluru Rural district in the state of Karnataka in India. The town is located 40 kilometres (25 mi) to the north-east of Bengaluru. Devanahalli is the site of Kempegowda International Airport. A multibillion-dollar Devanahalli Business Park with two IT Parks are coming up on nearly 400 acres (1.6 km2) adjoining the airport. An Aerospace Park, Science Park and a 10 billion (US$120 million) Financial City are also coming up. A new satellite ring road will connect the city with Doddaballapur. Devanahalli is situated near the upcoming 1,500 billion (US$18 billion), 12,000-acre (49 km2) BIAL IT Investment Region, to be the largest IT region in India.

<span class="mw-page-title-main">Economy of Bengaluru</span> Big network of Karnataka

Bangalore or Bengaluru, the capital city of the South Indian state of Karnataka, India. The economy of Bengaluru contributes over 43.65% to the economy of the State of Karnataka, accounting for 98% of the Software Exports of the State.

<span class="mw-page-title-main">Kris Gopalakrishnan</span> Indian billionaire

Senapathy “Kris” Gopalakrishnan is an Indian businessman and the chairman of Axilor Ventures, a startup accelerator. He is one of the co-founders of Infosys, having served as its CEO and managing director from 2007 to 2011 and vice chairman from 2011 to 2014.

<span class="mw-page-title-main">Bengaluru Commuter Rail</span> Planned suburban rail network in Bangalore, India

Bengaluru Suburban Railway is an under-construction suburban rail network for the city of Bangalore. A suburban rail system for the city was first proposed in 1983. Since then, several different route proposals were made but no suburban rail project took shape. It was finally approved in the 2019 Railway Budget.

<span class="mw-page-title-main">T. A. Pai</span> Indian banker and politician

Tonse Ananth Pai, was an Indian banker and politician, who was responsible for the success of Syndicate Bank as its general manager and later as chairman. He is also the founder of T. A. Pai Management Institute.

The first introduction of a mutual fund in India occurred in 1963, when the Government of India launched the Unit Trust of India (UTI). Mutual funds are broadly categorised into three segments: equity funds, hybrid funds, and debt funds.

<span class="mw-page-title-main">Bengaluru–Chennai Expressway</span> Indian expressway connecting Bengaluru and Chennai

The Bengaluru–Chennai Expressway, or National Expressway 7 (NE-7), is an under construction 258 km (160 mi) long, 4-lane wide access-controlled expressway between the cities of Bengaluru, the capital of Karnataka and Chennai, the capital of Tamil Nadu. It will run from Hoskote in Bangalore Metropolitan Region Development Authority to Sriperumbudur in Chennai Metropolitan Area. It is planned to allow vehicles to reach 120 km/h (75 mph). The road was designated as a National Expressway on 1 January 2021. The total project value is ₹17,930 crore. The Expressway is expected to be completed before the end of 2025, despite earlier dates announced by the national Minister for Road Transport and Highways, Nitin Gadkari.

<span class="mw-page-title-main">Rajeev Gowda</span> Indian academic and politician

Mothakapalli Venkatappa Rajeev Gowda is an Indian politician and academician. He is a former member of parliament in the Rajya Sabha and a national spokesperson for the Indian National Congress. He also currently serves as Chairman of the "Congress Research Department". He was Professor of Economics and Social Sciences and the Chairperson of the Centre for Public Policy at the Indian Institute of Management, Bangalore and taught a range of courses. He served as the Director of the Central Board, Reserve Bank of India. He is currently the Advisor for Bridge India, a progressive non-profit think tank set up in London in 2018.

<span class="mw-page-title-main">Satish Jain</span> Indian politician

Satish Parasmal Jain is a former candidate from Aam Aadmi Party (AAP) who was contesting from the North Mumbai constituency in the 2014 Lok Sabha Elections, which he lost getting 32,364 votes. Prior to trying himself in politics he worked as a portfolio manager for HDFC Mutual Fund and as an Executive Director for Morgan Stanley. Satish Jain gained media attention after exposing the Rs 22,000 crore electricity scam in Maharashtra.

<span class="mw-page-title-main">K. P. P. Nambiar</span> Indian businessman (1929–2015)

Kunnath Puthiyaveettil Padmanabhan Nambiar DIC (Lond), FIEE (Lond), CEngg (Lond.), more popularly known as K.P.P. Nambiar, was an Indian industrialist and technocrat, known for his work in the field of industrial development and technology. He was awarded Padma Bhushan by Government of India for his contributions to the field of technology in 2006.

<span class="mw-page-title-main">Indian Institute of Management Visakhapatnam</span> Business school in Andhra Pradesh, India

The Indian Institute of Management Visakhapatnam (IIMV) is a public business school and Institute of National Importance located in Visakhapatnam, Andhra Pradesh, India. It is one of the twenty one Indian Institutes of Management. The institution started the first batch of its Post Graduate Program (PGP) in Management from August 2015.

<span class="mw-page-title-main">Dayananda Pai</span>

Dayananda Pai is an Indian billionaire real estate developer, philanthropist and educationist in Bangalore, India. He is a managing trustee and board trustee of B.M.S college and Bharatiya Vidya Bhavan, and is the syndicate member of Manipal University and the National Institute of Technology, Surathkal and a former syndicate member of Mangalore University. Pai was awarded the Karnataka Udyog award and the Karnataka Rajyotsva award for social and charitable activities. He was conferred an honorary doctorate by Mangalore University for his exceptional contribution to the field of education and philanthropy.

N. Srinivasa Iyer Ramaswamy (1926–2012), popularly known as Cartman Ramaswamy, was an Indian engineer, educationist, management academic and writer, and the founder director of the Indian Institute of Management, Bangalore. He was the founder of Centre for Action, Research and Technology for Man, Animal and Nature (CARTMAN), a non governmental organization working for region-relevant and appropriate technology transfer to rural areas and Indian Heritage Academy, an organization involved in propagating Indian cultural traditions. He was also the founder chairman of the Adarsh Vidya Kendra (AVK) Group of educational institutions. The Government of India awarded him the third highest civilian honour of the Padma Bhushan, in 2006, for his contributions to society.

Dayananda Reddy is an Indian politician, entrepreneur, philanthropist and a former MLC for Bangalore Urban district at the Karnataka Legislative Council. He is known for adopting 7500 underprivileged students and giving them free education since 2010 through his foundation funded by his own businesses. Till date, the students of the foundation have planted more than 50,000 trees across Bangalore. The students have also been trained to spread awareness for keeping the city clean and green. Reddy joined the BJP in March 2018.

<span class="mw-page-title-main">National Investment and Infrastructure Fund</span> Sovereign wealth fund of India dedicated to infrastructure

National Investment and Infrastructure Fund Limited (NIIFL) is an Indian public sector company which maintains infrastructure investments funds for international and Indian investors anchored by the Government of India. The objective behind creating this organisation was to catalyse capital into the country and support its growth needs across sectors of importance.

References

  1. "IIM-B, Century Real Estate in research initiative". Live Mint .
  2. "Is the Real Estate Boom a Bubble Ready to Burst?" (PDF). Tejas, IIMB .
  3. "IIMB-CRERI (IIMB-Century Real Estate Research Initiative)?". IIMB .
  4. "Xander Finance invests in Century Real". Business Line .
  5. "Century Real Estate Raises Fund Through NCDs". Deal Curry . Archived from the original on 10 July 2015. Retrieved 10 July 2015.
  6. "Century Real Estate signs MOU for Rs 957 cr with Govt of Karnataka". Business Standard .