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MARG Limited
Company typePublic
IndustryInfrastructure
Founded1994
HeadquartersChennai, India
Key people
G R K Reddy (Chairman & Managing Director)
RevenueIncrease ₹15.8 billion (US$190 million) (FY 2012)
Increase ₹1.10 billion (US$13 million) (FY 2012)
Total assets₹1.79 billion (US$21 million) (FY 2012)
Websitewww.marggroup.com

MARG Limited (formerly known as MARG Constructions Ltd.), is an Indian construction company.[1]

Timeline

  • 1994: Founded by G R K Reddy, a first generation entrepreneur.
  • 1995: May: MARG announced an IPO (Raised Rs. 12 million) and began trading on the Bombay Stock Exchange
  • 1995: December: Developed MARG Center, an 8,000 sq ft (740 m2). commercial complex in Vijayawada, Andhra Pradesh.
  • 1996: Launched Sai Subhodaya Apartments in Chennai.
  • 1998: Completion of Wescare Towers in Chennai.
  • 2004: Completion of MARG's Digital Zone I, on the Chennai IT Corridor.
  • 2006: Obtained the Government of Puducherry's concession for the development of a modern port at Karaikal
  • 2006: Foreign Currency Convertible Bonds (FCCB) launched
  • 2006: MOU with Oakwood Asia Pacific for operation and management of serviced apartments.
  • 2006: Entered into a joint venture with Housing and Urban Development Corporation Ltd. (HUDCO) to form Signa Infrastructure India Limited.
  • 2007: March: Conceived the " Riverside Mall cum Business Hotel " project
  • 2007: May: Formal approval for MARG's SPV, New Chennai Township Private Limited (NCTPL)
  • 2007: June: Completion of MARG Square, on the Chennai IT Corridor.
  • 2007: July: Completion of Digital Zone II, on the IT Corridor.
  • 2007: August: Launched "Ramlakshmi Enclave" in Tenali, Andhra Pradesh
  • 2007: November: Launched Tapovan Villas
  • 2008: February: Launched MARG Swarnabhoomi – the 24 Carat Neo City with 2 notified Special Economic Zones
  • 2008: May: MARG to develop Fishing Harbour at Rajakkamangalam Thurai, near Kanyakumari.
  • 2008: August: MARG Chennai Marathon in aid of Give Life Charity
  • 2008: December: MARG awarded the contract for the development and operation of the Bijapur greenfield airport
  • 2008: December: MARG signs Consultancy Agreement with Surbana of Singapore for prefab construction technology for MARG Swarnabhoomi
  • 2009: January: Formal Approval for Port Based SEZ at Karaikal
  • 2009: January: MARG launches Pushpadruma an apartment project at Kalavakkam on the Old Mahabalipuram Road in Chennai.[2]
  • 2009: February: MARG and Bala Vidya Mandir, Chennai sign MoU to set up a concept school at MARG Swarnabhoomi called BVM Global.
  • 2009: March: MARG launches Vishwashakti, an integrated township in the temple town of Tirupati, Andhra Pradesh
  • 2009: April: Inaugurated Karaikal Port
  • 2009: April: Signed MoU with Chinmaya Heritage Centre for MARG Chennai Family Quiz 2009.[3]
  • 2009: May: Swarnabhoomi Academy of Music Envisioned by Prasanna Launched[4]
  • 2009: October: MARG Swarnabhoomi hosts a stop on AR Rahman's Jai Ho World Tour in aid of Shakti Foundation[5]
  • 2009: October: MARG launches MARG Properties Brand for its real estate vertical
  • 2009: October: MARG ProperTies launches Utsav apartments at MARG Swarnabhoomi
  • 2009: November: Foundation stone laid for Utsav, Swarnabhoomi Academy of Music and Dhyaan Dham at MARG Swarnabhoomi by Sri Sri Ravi Shankar[6]
  • 2010: January: Karaikal Port flags off its first railway cargo[7]
  • 2010: February: MARG Puduvai Marathon in association with the Rotary Club of Pondicherry
  • 2010: March: MoU signed with Virginia Tech, USA to set up Virginia Tech MARG Swarnabhoomi campus[8]
  • 2010: April: MARG launches Savithanjali apartments on OMR in Chennai
  • 2010: July: MARG launches Maha Utsav and Sky Meadows apartments at MARG Swarnabhoomi
  • 2010: July: Swarnabhoomi Academy of Music commences with its Six Month Diploma Program
  • 2010: Sep: Swarnabhoomi Academy of Music is officially inaugurated[9]
  • 2010: Oct: IGBC (Indian Green Building Council) confirmed MARG Swarnabhoomi as the pilot project for platinum rated city in India[10]
  • 2011: August: MARG Karaikal Port Launches Container Handling Services[11]
  • 2011: August: Marg Institute of Design & Architecture, Swarnabhoomi launched at MARG Swarnabhoomi[12]
  • 2011:November: Virgo Inaugurated at MARG Swarnabhoomi[13]
  • 2011:December: Four Seasons, The affordable high rise apartment launched at MARG Swarnabhoomi
  • 2012: January: KPPL Railways dispatched the 2000s Coal Rake on 15.01.2013 at 14.30 Hrs.
  • 2012: April: MARG joins hand with Central Institute of Technology, Australia
  • 2012: April: MARG collected the prestigious "Golden Peacock Award for Corporate Social Responsibility"[14]
  • 2012: April Marg Vishwashakthi Township Phase - I Handed over to customers total 192 Flats.
  • 2012: May: MARG Properties launches Pushkara, The Lake View Homes on OMR
  • 2012: May: MARG signs MoU with Malaysian-based Limkokwing University of Creative Technology[15]
  • 2013: Feb: Bengal Feeder Line launches service between MARG Karaikal Port, Colombo, Hindu Business Line[16]

Real Estate Residential

MARG's residential spaces ranging from affordable homes to ultra luxury homes are covered under the aegis of 2 residential brands:

• MARG ProperTies

As of 2018, there have been several reported issues in the media related to MARG Properties. Many of these involve delays in handover of the MARG Brindavan project located near Oragadam area in Chennai.[17] The project was launched with a great deal of sensationalism and with the slogan "Goodbye Landlady" and received a affirmative response with its media coverage. However, many of the buyers who had booked apartments with this project in late 2010 and in 2011 have reported no handover of these flats as of April 2018. This was also shot up with the arrest of the Chairman of MARG Group, G.R.K Reddy in November 2017 after a complaint was filed against him for cheating a buyer worth Rs. 25 lacs. The complainant had said that despite paying the money, MARG properties had not provided the apartment he has purchased.[18][19]

Also in September 2017, MARG properties was one of the two builders penalized by Tamil Nadu Real Estate Regulatory Authority (TNRERA) for non-registration of projects before the deadline as proposed by the Authority.[20]

References

  1. ^ "MARG excels as the fastest growing construction company in India". MARGGroup.com. 31 October 2008.
  2. ^ "'Pushpadruma' housing projects launched". news.webindia123.com. 23 January 2009. Retrieved 23 January 2009.
  3. ^ "For stronger family bonds". expressbuzz.com. 15 April 2009.
  4. ^ "'Prasanna's reason to smile'". expressbuzz.com. 7 May 2009.
  5. ^ "'Rahman's Jai Ho has fans swinging and swaying '". The Hindu. 12 October 2009. Archived from the original on 15 October 2009. Retrieved 12 September 2009.
  6. ^ "His Holiness Sri Sri Ravi Shankar lays the foundation stone for three projects at MARG Swarnabhoomi '". marggroup.com. 27 November 2009.
  7. ^ "'Karaikal Port gets rail link '". hindubusinessline.com. 28 January 2010. Retrieved 28 January 2010.
  8. ^ "'Virginia Tech university to set up campus in Chennai suburb '". The Times of India. 22 March 2010. Archived from the original on 11 August 2011. Retrieved 22 March 2010.
  9. ^ "'State-of-the-art music college on ECR'". The Hindu. 4 October 2010. Archived from the original on 11 February 2011.
  10. ^ "'IGBC platinum rating for MARG Swarnabhoomi'". Business Standard. 13 October 2010.
  11. ^ "'Karaikal port starts container services'". The Times of India. 2 August 2011. Archived from the original on 29 March 2013.
  12. ^ "'MARG launches institute of design and architecture'". The Hindu. 22 August 2011.
  13. ^ "' Virgo sets up valve manufacturing facility at MARG Swarnabhoomi'". The Hindu. 8 November 2011.
  14. ^ "' Golden Peacock for MARG'". The Hindu. 5 May 2012.
  15. ^ "'MARG signs pact with Malaysian university'". Business Line. 8 May 2012.
  16. ^ "'Bengal Feeder Line launches service between MARG Karaikal Port, Colombo'". Business Line. 18 February 2013.
  17. ^ "Project Delays: Chennai Homebuyers Put up a Fight Against Marg Properties". 16 September 2016.
  18. ^ "Marg ProperTies Chairperson GRK Reddy arrested for cheating home buyer". 9 November 2017.
  19. ^ Sivaraman, R. (10 November 2017). "Marg chief arrested in two more cases - The Hindu". The Hindu.
  20. ^ Lopez, Aloysius Xavier (18 September 2017). "Real estate authority fines two builders - The Hindu". The Hindu.
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