By IANS
New Delhi : Jones Lang LaSalle (JLL) Meghraj, a joint venture company formed Tuesday, has become India's largest real estate services firm and targets revenues in access of $100 million by 2009.
The new entity has been formed as a result of a merger between a global property consultancy Trammell Crow Meghraj and Jones Lang LaSalle – a real estate money management and services firm.
"Our aim is to be number one in the market and by 2009 we expect to exceed $100 million revenues," chief executive of JLL Meghraj Vincent Lottefier told reporters here.
The company would now have combined employee strength of 2,800 and it aims to increase it by 35 percent within two years.
Officials of both the companies, however, refused to share details over equity participation.
Anuj Puri, chairman and country head of JLL Meghraj, said: "We are currently looking at investment considerations but we hope to achieve a revenue target of $70 million by December this year."
The new entity is expected to command a market share of about 35 percent, Puri said.
JLL Meghraj also has plans to establish five more offices in addition to its existing 10 across the country as well as introduce additional services, including corporate capital markets, debt and derivatives, asset management and specialist mall management.