chennai pvp ventures a company founded by serial entrepreneur prasad v potluri and listed on the national bourses has sold its 90 ground prime property at vadapalani in chennai to education group srm for rs 140 crore sources close to the development saidpvp ventures has been on a property selling spree and the deal with srm comes on the back of the sale of its theatre complex in the citys suburbs and a hotel property in ooty both of which were concluded last yearthe company is learnt to be selling its properties in an effort to focus on its core businesses of urban infrastructure and power generation while top officials from srm confirmed the deal pvp ventures founder prasad v potluri declined to offer commentsthe property developed over 90 grounds with a builtup space of three lakh sq ft was originally built by the erstwhile ssi software to house its own campus but was leased out to tcssrm university has chalked out big plans for making use of the office space it is in the process of setting up its admissions office srm a deemed university in the city offers courses in various disciplines such as engineering medical dentistry and arts sciencesthe complex will be an extension of our city centre at ramapuram we will use the building for our admission and other administrative functions and conducting mba and computer science programmes it will also be used to house our new film institute srm university vicechancellor p satyanarayana told et he also said the acquisition was debtfunded by a couple of banksit is part of the land bank that pvp ventures inherited when it bought a controlling stake in ssi a couple of years back meanwhile tcs which built its own campus at the sipcot complex in siruseri has moved all its operations therelast year pvp sold its hotel property in ooty through its subsidiary ags hotels and resorts to mahindra holidays for rs 33 crore this property was part of the assets owned by ssilater pvp sold an upcoming theatre complex at villivakkam through a public auction for rs 2125 crore the complex spread over 16 grounds belonged to its subsidiary pvp screens pvp screens is a fully owned subsidiary of telephoto entertainments which is a subsidiary of pvp ventures to the extent of 6581pvps shares on the bse ended 498 higher on monday at rs 3055 compared to the previous close of rs 2910