Apollo
BPO Plans to Buy
2 US Firms
Apollo
Health Street,
the BPO and IT
solutions arm
of Apollo Hospitals
group, is in the
process of acquiring
two US-based companies.
Ms Sangita Reddy,
Director (Operations)
of Apollo Hospitals
group, said if
the acquisitions
materialised the
company's headcount
could cross the
2,000-mark by
the end of the
financial year.
As of now, the
company employs
1,600, including
300 in the US.
Meanwhile, the
hospital major,
which has tied
up with German
insurance company
DKV for offering
health insurance
services in India,
is likely to enter
the market in
June with the
first product.
GVK
Bio in Indian
JV with INC Research
GVK
Biosciences (GVK
BIO) has entered
into a 50:50 joint
venture with INC
Research (INC)
to form INC GVK
BIO Pvt Ltd. The
venture will establish
a dedicated resource
capability to
offer Phase I-IV
clinical development
programmes in
India for INC's
global clients.
The joint venture
will enable INC
Research to conduct
its global clinical
trials in the
areas of Oncology,
CNS, Infectious
Diseases and Paediatrics
involving Phase
I-IV studies.
GVK BIO currently
provides contract
research services
to a rapidly growing
base of global
pharmaceutical
and biotechnology
companies.
Commenting on
the new initiative,
G.V. Sanjay Reddy,
Chief Executive
Officer, GVK BIO,
said, “The
joint venture
provides an opportunity
for GVK BIO to
gain access to
INC Research's
global reach while
leveraging on
its India-based
Clinical Research
capabilities.''
Kelvin Logan,
President of INC
Research Europe,
stated, “Our
international
base of operations
has expanded strategically
last year, with
the addition of
several new offices
in Europe and
now India. This
joint venture
will allow INC
Research to further
solidify and expand
its presence within
the world CRO
market.''
Trinity
Capital Lines
up
$10 bn to Develop
Three Indian Metros
The
New York-based
real estate investment
fund Trinity Capital
has lined up $10
billion, which
may go up to $12
billion, to develop
three satellite
cities on the
outskirts of three
major metros -
Mumbai, New Delhi
and Bangalore.
Each of the satellite
townships, to
be built over
a 1,000 acre spread,
will see an investment
of $ 2-4 billion.
Trinity is also
in the process
of lining up $2.5
billion for investing
across 10,000
hotel rooms in
the country over
the next five
years.
Disclosing the
fund's investment
plans, Aashish
Kalra, Managing
Director of Trikona
Capital, the asset
manager for Trinity's
funds, said, “We
will bring in
the best of breed
planners and developers
for our projects
in both township
development and
our hospitality
projects.”
Kalra added, “We
have put in place
a team of senior
American town
planners and real
estate experts
to create the
master plan. The
locations are
being identified
by our Indian
team. We expect
to launch the
projects by the
year- end.”
On the township
development, he
said, “Each
of the townships
will be built
from the scratch
with local partners.
We are in the
process of identifying
the partners.”
About the fund's
strategy for investment
in the burgeoning
hospitality industry,
Kalra said, “Our
aim is to build
10,000 hotel rooms,
which translates
into around 400
hotels, in the
next five years.
In the first two
years, we expect
40 hotels along
the highways being
built by IL&FS
Transport Networks
(ITNL) in which
we have 10 per
cent stake. In
year three and
four we expect
to construct around
100 hotels each
but the real growth
will come in the
year five when
we will build
around 200 hotels.”
Kalra said the
group had already
tied up with the
Meridien and Hyatt
groups in the
luxury segment
and the Intercontinental
group in the mid
market segment
to manage its
properties.
“We will
also be looking
to develop our
own hotel brands
in these five
years,”
he added.
Trinity Capital,
promoted by Aashish
Kalra and Rak
Chugh, is an India-focussed
real estate fund
which has been
investing in commercial
and retail properties
and township developments.
