The Indian real estate company Sigrun is currently engaged in negotiations with a prominent Israeli firm regarding a potentially lucrative deal exceeding five hundred million dollars, as has been reported by trusted sources.
Rajesh Nair, the CEO and controlling stakeholder of Sigrun, detailed that 95% of the company’s operations are anchored in residential property, with the remainder focusing on office rentals. He shared that Sigrun's profit for the previous financial year was fifteen million dollars, and anticipates an increase to forty million dollars this year if plans unfold favorably.
Sigrun is actively exploring various avenues for collaboration with Israeli companies. One significant Israeli firm, which has yet to enter the Indian market, has shown a keen interest in maintaining contact with Sigrun. To aid in this effort, Sigrun has engaged a prestigious law office based in Tel Aviv to facilitate the discussions.
In an interview with TheMarker, Nair emphasized that Sigrun possesses construction-ready building plots in India valued at five hundred million dollars, along with 100 apartment units at various stages of construction. However, he noted that discussions have not yet progressed to determining specific figures and percentages.
Nair highlighted the necessity for any prospective Israeli partner to have international market experience, noting that Sigrun has yet to expand beyond India. He expressed his desire for a partnership that can introduce advanced technologies and planning capacities, which Sigrun currently lacks, while offering in return its deep expertise in the Indian real estate environment.
Currently, only a handful of Israeli developers, including Electra Real Estate, Azorim, and Elbit Imaging, are engaged in construction projects within India.