Island Aids India´s Biggest Developer In Latest Expansion

Isle of Man based Hirco Plc, the investment vehicle for Hiranandani, is a fine example of an Indian family firm with a long and distinguished history that has flourished in the face of global competition in the international marketplace.

Hiranandani is India's largest developer of prestigious mixed-use townships for the country's increasingly affluent middle class. Sister operations have significant international interests – including the world's tallest residential tower under construction in Dubai.

Hirco raised £362.6 million net in its initial public offering on AIM, the London Stock Exchange's alternative investment market, in late 2006 becoming the largest ever real estate investment IPO. By 30 September 2007, the net asset value of the company had risen to £469.7 million.