Prajay Engineers Syndicate Limited (PESL), a leading infrastructure development company headquartered in Hyderabad was promoted by Chandra Mohan Reddy. A 25 years old partnership firm converted and incorporated as a public limited company on 19th April 1994. The portfolio of Prajay's development activity includes residential complexes, commercial complexes and multiplexes, also having interest in hospitality business. PESL is pioneers in construction activities in the twin cities of Hyderabad-Secunderabad. Some of Prajay's reputed residential projects are Prajay Homes, Prajay Sai Gardens, Prajay City and Prajay Gruhatara.
Prajay had won the Prestigious CITD National Gold Award, consecutively for the years 1995, 1996 and 1997 for its outstanding standards in maintaining quality and affordability. The Company had ventured into the hospitality business in the year of 2000 as a diversification exercise and operates three properties under the Celebrity' brand name. In 2001, again, the company had received CITD National Gold Award once more. PESL had completed a Foreign Currency Convertible Bonds (FCCB) issue amounting to $15 million in the month of December 2005, received a stupendous response from overseas investors. During the year 2005-06, Prajay had successfully completed and sold a total area of 496672 square feet in its residential and commercial ventures. Prajay Harbour City, one of the largest integrated township projects in Vishakapatnam and Prajay Enclave had launched in June and August 2006 respectively. During the financial year 2006-07, the company constructed and sold an area of around 2 million square feet, mostly from residential ventures.
PESL had entered into a joint venture (JV) agreement with Malaysia based property developer, Sunway City India in January of the year 2007, for the development of one of the company's up market residential condominiums projects in Hyderabad. PESL completed and delivered almost 1.65 million square feet of development in the year 2007-08 and launched almost 20 million square feet of construction for completion in the next 3 years' time. In the same year of 2007-08, the company also appointed world renowned and experienced consultants to assist in project execution and ensure the highest standards of quality. Some of these consultants include RSP Architects from Bangalore, H Architects from Singapore, VBT Consortium from Bangalore, and FABS (Facilities and Building Systems). PESL also launched the Celebrity Club at Malakpet, extending the Celebrity brand to three locations now.
The Company will focus in future on Premium Apartments, Ultra-modern Townships, Development of Golf course, Independent premium bungalows, Development of 3 and 5 star hotels, Infrastructure development and Shopping Malls.
As on 31 March, 2012, company had 4 subsidiaries viz. Prajay Holdings Private Limited, Prajay Developers Private Limited (step-down subsidiary), Prajay Retail Properties Private Limited and Prajay Realty Private Limited.
As on 31 March, 2013 company had 3 subsidiaries viz. Prajay Holdings Private Limited, Prajay Developers Private Limited (step-down subsidiary) and Prajay Retail Properties Private Limited.
The Company had two subsidiaries viz; Prajay Holdings Private Limited (PHPL) and Prajay Retail Properties Private Limited (PRPPL) and one step down subsidiary viz; Prajay Developers Private Limited (PDPL) and two Associates viz: Prajay Properties Private Limited (PPPL) and Genesis Capital Private Limited as on 31st March, 2018.
As on 31st March, 2019 the Company had 3 subsidiaries viz; Prajay Holdings Private Limited (PHPL), Prajay Retail Properties Private Limited (PRPPL) and Secunderabad Golf and Leisure Resorts Private Limited (SGLRPL) and one step down subsidiary viz; Prajay Developers Private Limited (PDPL) and two Associates viz: Prajay Properties Private Limited (PPPL) and Genesis Capital Private Limited as on 31st March, 2019.
In year 2018-19, Secunderbad Golf and Leisure Resorts Private Limited became 100% subsidiary by virtue of transfer of shares from the registered shareholders/ registered owners (who were holding shares for and on behalf of PESL) to PESL ('beneficial owner').