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.
