bangalore real estate developer qvc realty plans to raise rs 600 crore in 2009 through a mix of equity and debt primarily to buy large tracts of land in the south especially closer to the new airports in bangalore and hyderabadaccording to a senior official of the ilfs backed qvc it plans to use a portion of the funds rs 200 crore for the development of its rs 2000 crore township project in gurgaon delhibased uppal group is a partner in this project we will need funds to acquire land in the southern metros we propose to acquire about 100 acres each in bangalore and hyderabad close to the new airports in these cities because we believe that both cities will grow in the direction of the airports we will require funds to develop current projects said qvcs promoter prakash gurbaxaniaccording to mr gurbaxani ilfs is likely to invest up to rs 400 crore in the company giving it the option to raise debt or bring on board a strategic investor into the spv implementing the gurgaon township ilfs has already invested 100 million into qvc in april 2007qvc realty has six projects under various stages of development integrated township projects in gurgaon and pune apart from stand alone developments in pune bangalore and chikmagalur in karnataka totalling about 20 million sq ftthe company has also partnered with bangalores sobha developers and new delhis chintels india for its second township project in gurgaonthe company formally launched its rs 150 crore bangalore residential project qvc hills it will construct 100 premium villas priced upwards of rs 5500 per sq ft on a 26acre plot located in close proximity to the devanahalli airport plans include developing an additional 50 acres in the coming years investing additional rs 250 crore mr gurbaxani said