VBHC Residential Project Gathers Steam

Published: August 25, 2010 at 10:33 AM | Author: Administrator
News Source: Business Standard

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Bangalore-based Value and Budget Housing Corporation (VBHC), promoted by Mr Jaithirth Rao, former chairman of Mphasis and Mr P S Jaykumar, former head of consumer banking at Citibank among others, launched their first project 'Vaibhav' in the affordable housing segment, signifying their business interest in this area. "Our business model is about value housing at affordable rates and we plan to build one million houses in the next 10 years," Mr J Rao, chairman of VBHC, said. Housing Development Finance Corporation (HDFC), which has a 10 per cent holding in VBHC at the entity level, has also committed funds for its upcoming projects, Mr Rao added.