The Indian real estate company Sigrun and a leading Israeli firm are in talks over a deal worth more than five hundred million dollar, as said by knowledgeable sources.

Most of Sigrun’s activities (95 %) are in residential property and the rest in office rentals, according to CEO and controlling shareholder Rajesh Nair. He said that the company’s profit in preceding FY was fifteen million dollar, and if everything goes as planned, this year it will be forty million dollar.
Sigrun is examining different possibilities for cooperating with Israeli companies. One main Israeli firm, which has not expanded into the Indian market so far, expressed interest in continuing the contacts with Sigrun, and the latter has hired a leading Tel Aviv law office to facilitate the proceedings.
In a discussion with TheMarker, Nair pointed out that his company has construction-ready building plots in India worth five hundred million dollar, in addition to 100 apartment units in different stages of construction. He said that the discussion here have not yet reached the stage of precise numbers and percentages.
Nair stressed that any Israeli partner must have international exposure, since Sigrun has not yet ventured away from India, while many Israeli companies are active in the world real estate market. He said he is looking for a company that can bring to the table technologies and planning capabilities that Sigrun lacks at this time, while Sigrun can contribute its proficiency in the Indian market to the Israeli partner.
Only a few Israeli developers – including Electra Real Estate and Azorim, and Elbit Imaging – are involved in construction in India.