Brick Eagle Invests 40% Stake in Leading Affordable Housing Player - Playtor Childspaces, Pune

MUMBAI and PUNE, India, March 10, 2015 /PRNewswire/ --

Brick Eagle has invested 40% stake in Pune's leading affordable housing company 'Playtor Childspaces Pvt Ltd'.

Playtor focuses on housing catering to informal workers in rural Maharashtra's industrial estates. 3000 houses, priced at Rs. 10 lakh for a one BHK, are currently being built in Paud, Rajgurunagar, Karjat, Shahpur and Ranjangaon.

Brick Eagle is a financial services platform for the affordable housing industry that enables developers across the country to create low-cost homes that cater to the bottom of the pyramid.

Mr. Rajesh Krishnan, Founder & CEO of Brick Eagle, says, "Playtor Childspaces is a brand in line with our overall vision of providing a platform to build affordable homes that are low cost yet aspirational. We look to partner with credible developers who can deliver homes at less than Rs. 15 lakh for the economically weaker sections of the society. We are happy to partner with Playtor and believe we can help them achieve scale."

Key partners of Brick Eagle include Architect Hafeez Contractor to optimize space utilization. Brick Eagle has invested in 5 service providers and 5 developer companies till date. Its venture companies include Xeco - an affordable housing marketing company, KlickBrick - an affordable housing sales platform, Phalcomm - a customer and back-office management company, Renderlogy - an interiors solutions platform and TPC - a project management company specializing in low-cost construction. It controls over 1250 acres of land, under various stages of development, across greater Mumbai, Chennai, Mysore, Coimbatore and Pune.

Playtor Childspaces was launched with a mission to create affordable homes in child-centric communities in the outskirts of Pune. Playtor Childspaces has already launched three projects on the outskirts of Pune at Ranjangaon, Rajgurunagar and Paud comprising of 2,500 keys and is set to launch another two in the next 6 months. By 2019, Playtor Childspaces plans to deliver 10,000 homes annually across various locations.

Mr. Sujit Bhansali, CEO, Playtor, adds, "To have Brick Eagle as a partner enables Playtor to have a wider view of the market and accelerate our delivery capabilities. Additionally, key aspects of governance and best practises get an added impetus in our overall business capability. Our current mission of delivering 10,000 houses a year by 2017 is now a practical reality."

About Brick Eagle:  

Brick Eagle is a platform for affordable housing development in India with a vision to deliver 1 million housing units by 2030. Brick Eagle began reaching out to start-ups and entrepreneurs to create companies that could focus on each step of the home buying process, thus creating an ecosystem to bring homes to millions of Indians.

Venture companies include TPC, a construction company specializing in low cost housing. Across & Beyond carries out project management. KlickBrick is a sales platform, and Phalcomm handles customer management and revenue operations. Xeco Advertising handles the marketing and branding for the developers.

Presently, Brick Eagle operates through four verticals. Ventures is one such, where Brick Eagle-incubated companies complete the affordable housing ecosystem. The other 3 verticals are Lands which acquires ground for development, Advisory, the developers with whom Brick Eagles partners, and Social Housing, which ensures that units can be purchased for as little as Rs. 3 lakh.

For more information, visit: www.brickeagle.com

About Playtor Childspaces: 

Playtor Childspaces, a brand of Sangam Group, is a Social Housing Developer in Pune with an aim to build child-friendly affordable homes at Rs. 10 lakh. Playtor Childspaces aims at creating child-centric communities in the outskirts of major metropolitan cities of India. Currently, they are launching 3 projects i.e. Paud, Ranjangaon (MIDC) and Rajgurunagar.

Each Playtor partner is a specialist in its field, and this talented team is poised to transform India's social housing landscape. With Brick Eagle in the social enterprise sphere, renowned architect Hafeez Contractor for architectural design, and Ashoka in lending knowledge and experience in the social housing sector, Playtor brings together formidable allies in pursuit of one goal: to provide affordable homes for low income groups.

For more information, visit: www.playtor.in

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