Mumbai, February 2012 — Yardi Systems, a leading developer of software solutions for the real estate investment, asset and property management industry announces that The Phoenix Mills Limited is now live, using Yardi Voyager as the platform of choice to manage their real estate properties.
The Phoenix Mills Ltd., a pioneering, progressive Indian real estate business, developed dormant mill land into a modern, multi-use integrated commercial property. The complex has now been developed to over 1.5 million square feet of space and houses retail, entertainment, commercial as well as residential complexes and is widely regarded as one of the largest commercial facilities in Mumbai.
”With the development having grown to the size it is today it was important that we took steps to ensure the highest levels of efficiency through our property management processes,” explains Rajendra Kalkar, Sr. Centre Director, High Street Phoenix. “The specific functionality in Voyager’s retail module was undoubtedly a key deciding factor in choosing Yardi; however the scalability of the platform perfectly suited our plans to develop our organisation and plan for further expansion and growth” he added.
Voyager, a single database, web based solution will drive a great number of operational efficiencies right through Phoenix Mills real estate process including general ledger, accounts receivables, accounts payables, inter-company billing and fixed assets. The company was though particularly impressed with how the system was able to easily reconcile “overage” and revenue share with actual income; a specific challenge for their business. Phoenix Mills is now live using Yardi Voyager in Mumbai with other locations going live later in the year.
About The Phoenix Mills Limited:
The Phoenix Mills Ltd. has developed over 1.5 million square feet of real estate space which houses retail, entertainment, commercial and residential complexes.
The company’s operations span most aspects of real estate development and include planning, execution and marketing of projects, management, maintenance and sales of the completed development.
The Group plans an exciting period of growth with the development of real estate in eight cities including Mumbai, Bangalore, Chennai, Pune, Raipur, Agra and Indore. The plan includes retail units, entertainment complexes, commercial units, hotels, parking and residential complexes.
Yardi Systems has been committed to the design, development and support of real estate investment management and property management software for more than 28 years. The Yardi Voyager™ system is the most comprehensive single real estate management platform on the market today. Yardi serves clients around the world from offices in Australia, Asia,Europe and North America. More information about Yardi products and services is available at www.yardi.com.
Martin Gedny — International Marketing Manager
Yardi Systems Limited
+44 (0) 1908 308400
Yardi Software India Pvt. Ltd.
2nd Floor, Sigma House
Off Senapati Bapat Road
Pune 411 016, INDIA
Tel: +91 (20) 2560 9000
Fax: +91 (20) 25651914
Email Inquiries: email@example.com
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255