BSEL ALGO Ltd Company Summary

BSEL ALGO Ltd Summary

BSEL Infrastructure Realty Ltd is an India-based real estate development company. The main business activity of BSEL Infrastructure Realty involves real estate development like construction of hotels, IT parks, business arcades, and shopping malls. They also offer all infrastructure related developmental services at competitive prices. They are a pioneer and one of the market leaders among the real estate development companies operating in India.BSEL Infrastructure Realty Ltd was incorporated on November 15, 1995 as Bell South Enterprises and was promoted by Babulal Shermal Jain. In the year 1998, the company name was changed into BSEL Information System Ltd to facilitate their wide pool of customers with IT based services and in the year 2003, the company got their present name BSEL Infrastructure Realty Ltd.In the beginning, the company trades in computer software, hardware and peripherals, which find a wide application in personal & official use in the business circles. The production includes various computer systems such as PC/AT/486, Pentium, LAN, Notebooks & various standard computer software and peripherals such as Multimedia, LAN Cards, Fax-Modem Printers. The first infrastructure project, BSEL Tech Park was completed during the financial year 2004-05. During the year, the company incorporated a wholly owned subsidiary BSEL Infrastructure Realty (FZE) in UAE with an objective of expanding their business activities internationally.During the year 2006-07, the company entered into strategic alliances with Unity Infraprojects Ltd for development of six shopping malls at various locations in Nagpur. They also entered into a joint venture with Kamat Hotels (India) Ltd and Unity Infraprojects Ltd for developing a hospitality and commercial project in Pune. In March 2007, the wholly owned subsidiary of the company, BSEL Infrastructure Realty FZE has entered into agreement for acquisition of three plots located on the main Emirates Road Ajman in Emirates City for developing the residential towers. Also, Goa Tech Parks Pvt Ltd was incorporated with an objective of development of industrial and IT parks. The company holds 50% of share capital in the company. In July 2007, BSEL Infrastructure Realty FZE has appointed renowned Architect & Project Management Consultancy Firm Adnan Saffarni for implementation and management of Emirates City Project of the company.In November 2007, Clear Water Capital Partners (Cyprus) Ltd has taken 49% stake in the SPV Company formed by BSEL Infrastructure Realty Ltd in equal Joint Venture with Unity Realty and Developers Ltd and Kamat hotels (India) Ltd.In February 2008, BSEL Infrastructure Realty Pte Ltd, a wholly owned subsidiary of BSEL Infrastructure Realty FZE has been incorporated in Singapore. In May 2008, the company signed an MOU with Federal Governments Statutory body Iskandar Regional Development Authority (IRDA) wherein BSEL has committed to make investment in Iskandar Malaysia to the tune of RM 15,000,000,000 equivalent to Rs 18000 crore over a period of twelve years.In August 2008, the company through their 100% subsidiary BSEL Waterfront Sdn Bhd, Malaysia has been awarded 8.5 Acres of Land with 9-Storey Waterfront shopping Mall of 400,634 sq feet area. The project is planned to have high rise apartments with 3 side waterfront view with just 25 minutes drive from Central Business District of Singapore.