Rs 35-crore RR Tower III ready
RR Industries Limited, a leading IT real estate promoter providing state-of-the-art infrastructure facilities on long-term rentals to software companies, will add 4.2 lakh sq ft IT real estate space in Chennai by end-2005.
The first company in Chennai to usher in the concept of leased office space for the IT sector, RR Industries launched their first project in 1997, RR Tower I, with built-up space of 40,000 sq ft, which was leased out to Alcatel Development Corporation.
R Ravi, managing director, RR Industries, said, "When we introduced the concept of long-term rental in the IT Space in 1997, we received a very good response. Till then, the developers were offering space only for purchase. This concept offered two clear advantages. One, companies can commence operations in 45 days, against the normal 12+ months time taken to build space from scratch. The second advantage was that they saved on the initial investment that is blocked in purchasing space. We found a ready client in Alcatel Development Corporation for our first project R R Tower I at the Guindy Industrial Estate. When we launched RR Tower II with 80,000 sq ft, Alcatel took up additional space with us. Other tenants here are Element K, Lapiz Digital Services and Aithent Technologies."
"Our third project RR Tower III - a 160,000 sq. ft., Rs.35 crore, state-of-the-art technology park in Guindy, -is being inaugurated on May 3. Alcatel is continuing its association with us and has taken up a sizeable space in this project also. Other IT majors who have taken up space in this property are US Software and Iseva. We are very happy we have earned the trust of such discerning companies and consider it a testimony to our projects, both in terms of quality and convenience of rented space."
"By the end of 2005, our fourth project RR Tower IV (cost Rs. 60 crore) in Guindy will also be ready, offering 2.5 lakh sq ft to the technology players in the city," Ravi added.
RR Tower Ill, sporting a striking glazed facade and a good elevation, with 140,000 sq ft floor space across eight floors and a 17,200 sq. ft. terrace area, is a model for world-class infrastructure that is being demanded and offered in Chennai for tech companies. Right from the furniture to security systems the project boasts of the best in class brand names including Blow Plast, Blue Star and York.
Comfort and convenience come in the form of amenities including 150 per cent power back-up, three 20-passenger high-speed elevators, plug & play environment with data and voice cabling systems, 100-seater auditorium, 2 floor parking bay to accommodate 200 cars and 400 two-wheelers, 17,200 sq ft terrace cafeteria, two ATMs and a business centre with 3 ISPs.
Built-in safety features include fire-fighting equipment, wet raisers, sprinklers and smoke detectors. Built at a cost of Rs. 35 crore, RR Tower III is set to become another IT landmark in the city.
"Offering what the customer needs is our speciality - be it just floor space for customised interiors for large companies, or completely furnished office space or even smaller incubator like built up offices measuring 1,000 -3,000 sq ft for small IT enterprises at competitive prices. We are also looking at eco-friendly low-rise special projects," added V Raman, group chairman.
"We plan to speed our growth further and for this, we will be going in for an IPO by the end of 2005 or early 2006. Through the IPO we plan to raise Rs 10-15 crore, to focus on higher value projects including the niche eco-friendly concepts," elaborated Raman.
Part of the Rs 100 crore RR Group of Companies, RR Industries is a certified infrastructure provider as per STPI. The company is headed by Ravi, a second-generation, management grad-entrepreneur, with business interests in leather, textile and speciality castings.
