Maars Software eyes real estate in India with Rs 20 bn

Maars Software International,a key player in enterprise resource planning (ERP) solutions, client server applications, GUI frontends, CRM and eBusiness solutions had unveiled its plans to step into real estate business in India with joint ventures to develop residential and commercial complex with Rs 20 billion project cost.

The decision was announced on Wednesday after the board of directors approved the proposal. Maars Software International started way back in 1996 in Chennai and currently has offices in Bangalore, Chennail and Chicago(US).

To capitalize the Indian media, entertainment and film distribution business, a further Rs1 Billion project cost was set aside. A subsidiary company in the name of MAARS International was approved to set up for this venture.

Shares of the company gained Rs 0.32, or 4.95%, to settle at Rs 6.79. The total volume of shares traded was 2,889,590 at the BSE.

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source: msnbc.msn.com