|Engaged in residential construction activity in Chennai , Vijay Shanthi Builders also has a few commercial complexes in Chennai to its credit. Their corporate clients include State Bank of India employees and BHEL employees.
There has been a boom in the residential and commercial construction industry over the last decade. HUDCO has come out with proposals to finance private builders. Other organisations like HDFC, LIC, Canfin Home and SBI Finance Homes are extending loan facilities to acquire houses. With economic liberalisation, there has been a boom in commercial construction, which has helped private builders in a big way. .
It has diversified into other areas. It has a herbal mineral water processing plant (cap.: 50,000 ltrpd). The company is marketing its mineral water under the brand name Vijay Shanthi Mineral Water. The company also ventured into civil construction. It has also taken over a sick cement unit, Vivekananda Cements, based at Gulbarga. It has been renamed Vijay Shanthi Cements and will remain a 100% subsidiary of the company. The cement produced by the cement division will be utilised in their construction activity and the balance, if any, would be sold in the local market.
In 2001, it is in the process of executing about 11 projects in Chennai and Bangalore at a cost of Rs 117 crores.
During the year 2004,Akash Housing Ltd has been amalgamated with the company and according to the scheme of amalgamation,1 Equity share Rs.10 each will be issued/allotted for every 1 Equity share of Rs.10 each held by the shareholders of Akash Housing Ltd.|