| Real Estate Update
Mahindra to develop resorts in WB
Mahindra Holidays & Resorts India Ltd has signed an agreement
with the West Bengal Tourism Development Corporation and Sundarbans
Infrastructure Development Corporation to develop new tourist
destinations.
In the first phase of the project an investment of Rs 200
crore will be made in setting up three or four-star category
resorts at Gorumara and Jaldapara in North Bengal and the
Sundarbans.
Contact: Mahindra Holidays & Resorts India Ltd.
Tel: 044-3988 1000. Fax: 044-3027 7778.
E-mail: feedback@clubmahindra.com
Website: www.clubmahindra.com
Yashoda Hospital to set up Rs 100 crore cancer centre
Yashoda Hospital will be setting up an exclusive cancer centre
with an investment of Rs 100 crore at its premises in Hyderabad.
The centre will be operational by May 2008.
Contact: Yashoda Hospital
Tel: 040-2331 9999. Fax: 040-2331 2783.
Email: somajiguda@yashodahospitals.com
Website: www.yashodahospitals.com
TCS to set up base in Cincinnati
Tata America International Corporation, the US subsidiary
of Tata Consultancy Services (TCS), has received incentives
worth $19 mn (Rs 76 crore) for setting up its base in Cincinnati,
US. The tax incentive includes a 90 per cent, eight-year job
creation tax credit, valued at more than $ 15 mn (around Rs
60 crore). Tata America has acquired a 1,96,000-sq ft building
at Clermont county spread across 222 acre for
$13 mn (Rs 52 crore). The Ohio state has also awarded TCS
a $2.5-mn around (Rs 10 crore) rapid outreach grant to help
pay for the building and its renovation, which
will cost the company $7 mn (approx Rs 28 crore).
Contact: Tata Consultancy Services.
E-mail: indiageo.pmo@tcs.com
Website: www.tcs.com
Aditya Birla plans ‘More’ stores
Aditya Birla Retail will roll out 12 mega stores in the hypermarket
format in 2008-09. The hypermarkets, christened ‘More’
will come up in Mysore, Ahmedabad, NCR and other southern
states. The company also plans to expand its supermarket format
stores to 500 by the end of this year.
Contact: Aditya Birla Retail.
Website: www.adityabirla.com
Asset launches ‘Signature’ project
Kochi-based Asset Homes will build luxury digital apartments
called Signature at Thiruvananthapuram The project will be
constructed next to Techno Park and will have 472 digital
homes in six towers.
Contact: Asset Homes.
Tel: 0484-6456 474.
Website: www.assethomes.in
Sobha listed in ‘Tomorrow’s Winners’ list
Sobha Developers Limited (SDL) has been listed amongst Asia
Pacific’s
20 best companies in terms of expected investor returns over
the next five years. The list titled ‘Tomorrow’s
Winners’ prepared by global investment bank Morgan Stanley
after reviewing companies, their industries and their competitive
advantages, has described Sobha as an emerging pan-India property
developer.
Meanwhile, it has launched its first residential villas project
‘Sobha Lifestyle’ in Devanahalli in Bangalore.
Apart from being the first residential villa project by SDL,
this is also the largest villa project by the company in Bangalore.
Spread across 55-acre, the project has 165 villas on sites
measuring from 5,000 to 10,000 sq ft. This Rs 250- 260 crore
project is estimated to be complete by the end of 2010. Sobha
Developers will commence work on projects covering 12 million
sq ft space in the next financial year. This is apart from
the 12-million sq ft of existing projects under progress across
the country.
Contact: Sobha Developers Ltd.
Tel: 080-2210 4561/2/3/4/5/6.
E-mail: sdplsrc@sobha.co.in
Website: www.sobhadevelopers.com
Reliance targets Jaspur for university project
Reliance Industries Limited is planning to set up a university
on 800 acre in Jaspur, on the outskirts of Vadodara. The final
approval for the project is still pending with the state Cabinet.
The state government has offered up to 50 per cent subsidy
on land meant for educational purposes. The deal to acquire
the land is pegged at Rs 50 crore.
Contact: Reliance Industries Limited.
Tel: 022-2278 5000. Website: www.ril.com
MAK Group to expand hotel network
MAK Hotels and Resorts Pvt Ltd, part of the Hyderabad-based
real estate developer MAK Group, has chalked out plans to
set up three and four-star hotels across the country under
its newly-launched ‘Blue Lotus’ brand, at an outlay
of Rs 600 crore. The hotels will come up in Nagpur, Pune,
Mysore, Kolkata, Chennai, Hyderabad and Bangalore.
The company has also entered into a joint venture agreement
with Malaysian infrastructure company, Sunway City Berhad,
for developing a Rs 350-crore high-rise integrated township
project
in Hyderabad.
Contact: MAK Projects Pvt Ltd.
Tel: 040-2341 5500.
E-mail: info@makprojects.com
Website: www.makprojects.com
10,000-acre varsity in Puri
Vedanta is planning to set up a varsity on 10,000 acre at
Puri. The Vedanta University will be totally not-for-profit,
funded by a one billion dollar endowment grant from the Anil
Agarwal Foundation. The campus will have academic and non-academic
buildings to cater to the needs of one lakh students and faculty
and staff of half that number and also have Olympic-calibre
sports complexes, golf courses, and other sports and recreational
facilities. The state government will build a four lane road
from Bhubaneswar to the site in two years.
Contact: Vedanta University.
Tel: 022-4005 8000.
E-mail: info@vedanta.edu.in
Website: vedanta.edu.in
Cinevistaas to develop IT park
Television production company Cinevistaas has earmarked Rs
200 crore to build a 2-acre IT park in Mumbai. Dorma, a German
company, has been signed on to overlook the venture. Around
250,000 sq ft space will be available for rental, of which
20 per cent will be allotted to the hospitality sector.
Contact: Cinevistaas Ltd.
Tel: 022-2600 6066/6887/2643.
Fax: 022-2600 6618/4677.
Website: www.cinevistaas.com
Avesta chalks out Rs 600 cr expansion plan
Avesta Biotherapeutics and Research (ABRPL), the joint venture
between Cipla group company Meditab Specialities and Bangalore-based
Avestha Gengraine Technologies, plans to invest over Rs 600
crore to set up units at Bangalore and Hyderabad in three
phases to manufacture biotech drugs. ABRPL is also planning
to set up a larger facility of about 5,000-litre capacity
at Shapoorji Pallonji Biotech Park at Hyderabad in the third
phase. The company will market the products through the outlets
of its health food arm, Good Earth and through pharmacies.
Contact: Avesta Biotherapeutics and Research P.L. Tel: 080-2841
1665/2308/2770/2766.
Fax: 080-2841 8780. E-mail: info@avesthagen.com
Website: www.avesthagen.com
Reliance to market Apple products
Reliance Retail Limited plans to open around 60 iStores, an
exclusive Apple products reseller format, in the next 18 months,
besides expanding its multi-branded consumer electronics,
home appliances, IT and telecommunications products retail
chain, Reliance Digital, by another 150 in two to three years.
Covering a carpet area of between 2,000 to 3,000 sq ft each
iStore will be set up with an investment of around Rs 2,500
per sq ft.
Contact: Reliance Retail Ltd.
Website: www.ril.com
TNT to set up 5 mega hubs
TNT India, the wholly-owned subsidiary of the Netherlands-based
TNT NV, plans to set up mega hubs in Nagpur, Delhi, Kolkata
and one in the South and West. The company has zeroed in on
Bangalore and Salem and Nashik in Maharashtra. Each hub could
require an investment of € 2 mn (approx. Rs 12.6 crore).
Contact: TNT India
Tel: 080-4124 8341. Fax: 080-2229 2227.
Website: www.tnt.com
India paves the way for Fullerton Hotel chain
Far East Organization will launch the Fullerton Hotel chain
in India through its public-listed arm Sino Land. The first
150-200 room hotel will come up in Kolkata.
This apart, Far East was also looking for land to build service
apartments in Kolkata, Mumbai, Delhi, Chennai and Bangalore.
Far East has roped in Delhi-based Land Solutions to create
a land bank for its residential and commercial projects. Land
Solution currently has a land bank of 10,000 acre across India.
Far East will invest up to $100 mn (approx Rs 400 crore) in
India for residential and commercial projects.
Contact: Far East Organization
Tel: 065-6235 2411.
Fax: 065-6235 3316.
Website: www.fareast.com.sg
Real estate sector gets hedge fund investments
Mauritius-based hedge fund DE Shaw has made an equity investment
of $250 mn (Rs 1,000 crore) in Mack Star Marketing, a unit
of Mumbai-based Housing Development & Infrastructure (HDIL),
a realty developer who has a land bank of 132 mn sq ft in
the city.
Mack Star is developing nearly 0.5 mn sq ft of commercial
complex, Kaledonia, in Mumbai. HDIL sold the development rights
of Kaledonia to Mack Star for Rs 900 crore at around Rs 18,000
per sq ft.
The Indian real estate sector received nearly $2.6 bn (Rs
10,400 crore) PE funding in 32 deals in 2007, according to
an Assocham study. Private equity deals are expected to touch
$48 bn (approx. Rs 192,000 crore) in 2010.
Contact: HDIL.
Tel: 022-2658 3500. Fax: 022-2658 3535.
E-mail: info@hdil.in, Website: www.hdil.in
Yoo Pune to be launched shortly
Global property design and development company Yoo has announced
an alliance with Pune-based real estate developer Panchshil
Realty to construct India’s first branded apartments.
Yoo Pune is a set of six 30-floor apartment towers at Hadapsar.
The company will launch projects at Gurgaon, Mumbai and Bangalore
shortly.
Contact: Panchshil Realty.
Tel: 020-2612 7366/9325.
E-mail: info@panchshil.com
Website: www.panchshil.com
Today’s Writing to expand retail network
Stationery maker Today’s Writing Products is entering
retail of office supplies and stationery products by planning
to open 500 stores under the OFFIX brand in the next three
years at an investment of Rs 160 crore.
The company has floated Today’s Stationery Mart for
the venture. Today’s is also setting up six warehouses
of 70,000 to 80,000 sq ft to cater to operations across the
country.
Contact: Today’s Writing Products
Tel: 0260-2668 574/538/884.
Fax: 0260-2668 536/506.
Website: www.todays-pens.com
Mantri to offer telemedicine facilities
Mantri Developers has joined hands with Apollo Hospitals Ltd
to extend teleconsultation services at Mantri Espana, a super
luxury residential complex being developed on the Sarjapur
Outer Ring in Bangalore. The experiment will also be carried
out at its Chennai project Synergy, a 600 apartment complex
and Mantri Tranquil in Bangalore.
Contact: Mantri Developers.
Tel: 080-4130 0000.
Fax: 080-4132 5000.
Email: homes@mantri.in
Website: http://mantri.in
Ashford shells out Rs 130 cr for Ceat land
Ceat has sold seven acre in Mumbai for Rs 130 crore to Ashford
InfoTech Ltd. The money will be used to part finance Ceat’s
Rs 800-crore expansion plan that involves setting up a Rs
500-crore greenfield radial tyre manufacturing facility and
a Rs 300-crore tyre making unit either at Patalganga or Ambernath
near Mumbai.
After the sale, Ceat will be left with about 24 acre, which
will be sold after two years when work on the two new factories
is nearing completion.
Contact: Ceat Ltd.
Tel: 022-2493 0621.
Fax: 022 2493 8933.
E-mail: response@ceatltd.com
Website: www.ceatyres.com
BPTP clinches largest land deal
BPTP Group has acquired 95 acre of commercial land at Noida
for Rs 5,006 crore. Touted as one of the largest land deals
in the country, BPTP plans to build a commercial destination
that will have offices, hotel and retail space. BPTP quoted
Rs 1.30 lakh per sq m against the reserve price of Rs 77,000
per sq m. Besides the land, the construction cost is estimated
to be around Rs 3,000 crore. The company will also have to
shell out 11 per cent towards lease rental and 8 per cent
towards stamp duty.
Contact: BPTP Group.
Tel: 011-4359 0000. Fax: 011- 4151 3938.
Website: www.bptp.com
UEI Global to open 6th hospitality institute
UEI Global, owned by Berggruen Education Pvt Ltd, one of the
firms of the New York-based Berggruen Holdings, is now setting
up hospitality institutes in South India. The company has
already set up five institutes so far and the institute in
Bangalore will be the sixth one. By April-May, it will set
up 22 institutes across the country. It costs around
Rs 1 crore to set up each institute and UEI Global plans to
have 50 such institutes by 2009.
Contact: UEI Global. Tel: 011-2794 8747-48.
E-mail: info@uei-global.com
Website: www.uei-global.com
True Value inks alliance with CPI
Construction company True Value Homes India Pvt Ltd has formed
an alliance with CPI India Ltd to implement a Rs 700-crore
residential project near Chennai. CPI will bring FDI into
the project, being promoted through a special purpose vehicle
- TVH Estates Chennai Pvt Ltd. The project ‘Ouranya
Bay’, will have over 860 apartments spread over six
towers of 29 floors each. The 17.5 acre project is being designed
by international architects Surbana. True Value Homes has
tied up with the Singapore-based MS61 to construct the towers.
The entire structure will be of reinforced concrete without
the use of bricks or mortar.
Contact: True Value Homes India Pvt. Ltd.
Tel: 044-2467 0088. Fax: 044- 2467 0066
Website: www.tvh.in
Parsvnath to set up 40 hotels
Parsvnath Developers Ltd plans to open 40 more hotels at an
investment of Rs 2,000-2,500 crore and is talking to leading
international hotel chains for
tie-ups either on the basis of an operational agreement or
through a special
purpose vehicle.
Contact: Parsvnath Developers Ltd.
Tel: 011-2331 0198/2335 0120.
Fax: 011-2331 5400/2335 5565.
E-mail: mail@parsvnath.com
Website: www.parsvnath.com
International institute for design set up in Pune
France-based Chamber of Commerce and Valenciennois (CCIV)
has joined hands with Pune-based DSK Group to launch the International
Institute of Industrial Design, Gaming and Animation in Pune.
The institute, located along the Pune-Hyderabad national highway
will be spread on 20 acre built at an investment of Rs 200
crore.
Contact: Chamber of Commerce and Valenciennois.
E-mail: c.mercier@valenciennes.cci.fr
Website: www.valenciennes.net
Govt allocates Rs 243-crore
to revive coir industry
A Rs 243-crore scheme has been approved by the Union Cabinet
for extending sops and concessions to coconut farmers and
traders for rejuvenating the traditional coir industry. The
first-ever exclusive coir village coming up at Singampunari
in Tamil Nadu will promote 20 units of spinners and 30 household
weaving units. The government will fund Rs 82 lakh out of
the Rs 1.95 crore needed to set up the venture.
Contact: Coir Board.
Tel: 0484-2351807.
E-Mail: coirboard@vsnl.com
Website: www.coirboard.nic.in
IT parks taking shape in TN
Electronics Corporation of Tamil Nadu Ltd’s plans to
set up IT parks in tier II cities of the state are gaining
momentum. The Commerce Ministry has notified 49.89 hectare
at Navalpattu on the outskirts of Trichy as a special economic
zone for IT and IT-enabled services. Elcot has also sought
an additional 120 acre in the same vicinity. Elcot is planning
to rope in major IT industries to establish units at Tirunelveli,
Trichy and Salem. HCL, Sutherland and CTS have evinced interest
to set up units at the Trichy Park.
Contact: Electronics Corporation of Tamil Nadu Ltd.
Tel: 044-6551 2300/2432 0124.
E-mail: info@elcot.com
Website: www.elcot.com
Titan to open 100 eyewear stores
Titan Industries will open more than 100 retail centres under
the brand Titan Eye + in the next five years. The had opened
four retail centres in Bangalore and one each in Chennai,
Hyderabad and Nagpur. These stores will come up in Delhi,
Chandigarh, Jaipur and Lucknow this year. The company will
open another 103 retail centres of Titan Watches by the end
of June and also set up 12 new stores in North India this
year.
Contact: Titan Industries.
Tel: 080-6660 9000/9027/9028.
Fax: 080-2526 9923/3001.
E-mail: webmaster@titan.co.in
Website: www.titanworld.com
KSL to roll out 15 projects in
2 years
Mumbai-based textile and yarn manufacturer KSL and Industries
Ltd has embarked on a major expansion to develop real estate
on a pan-India basis at an investment of Rs 2,500 crore. The
company will develop 15 projects which are a mix of residential,
commercial, retail, IT park, hospitality and warehousing.
Having a land bank of around 18.25 mn sq ft in Mumbai, Punjab,
Nagpur, Kolhapur, Amritsar, Kalameshwar and Silvassa, the
company will roll out the projects in a phased manner over
the next 12 to 24 months.
Contact: KSL and Industries Ltd.
Tel: 022-2495 5321-27.
Fax: 022-2492 4295.
E-mail: ksl@kslindustries.com
Website: www.kslindustries.com
Vishal Retail to foray into real estate sector
Vishal Retail will foray into the real estate sector and launch
its project either in the second half of the current year
or early next year. The company is also planning to acquire
10 mn sq ft in next three years which will partly be used
for expanding the retail business and rest for real estate
purpose. Vishal also aims to open 100 retail stores, also
with new ones in Chandigarh, Mohali and Manimajra.
Contact: Vishal Retail Ltd.
Tel: 011-3062 2002-08.
E-mail: customercare@vrpl.in
Website: www.vishalmegamart.net
Grabal Alok to open 500
‘Store 21’ outlets
Grabal Alok Impex, a part of Alok Industries, is planning
to launch Store 21, previously owned by UK retailer Hamsard,
in India soon. Grabal Alok Impex, a joint venture between
textile company Alok Industries and Austria’s Grabal
Group acquired Hamsard in 2006. Grabal Alok is planning to
set up 500 stores in five years at an investment of Rs 250
crore. The first store may
start next year. The company will shift sourcing from Europe
to Asia to achieve better margins.
Contact: Grabal Alok Impex Ltd.
Tel: 022-2499 6200/6500.
E-mail: info@grabalalok.com
Website: www.grabalalok.com
M2K premium residential complex arrives in North Delhi
Delhi-based real estate developer M2K is developing Victoria
Garden, a garden resort in Delhi. To be built on Mall Road
adjoining Model Town, Victoria Gardens offers freehold, air-conditioned
luxurious 3 and 4 bedroom
condominiums and penthouses with world-class facilities like
guest room
and concierge service, an exclusive health club, European
style open
modular kitchen, video phone and intercom facilities.
Contact: M2K Group.
Tel: +91 11 2341 7771-73.
Fax: +91 11 2341 5554.
E-mail: info@m2kindia.com
Website: www.m2kindia.com
Sarovar Hotels plans
Rs 400-cr expansion
Sarovar Hotels and Resorts will invest Rs 400 crore in 33
management contracts and owned properties over the next 3
years. Around 75 per cent of the amount would be invested
in owned properties under its budget segment brand Hometel,
while the rest will be invested in acquiring properties in
Kerala and the National Capital Region where the company will
benefit from the government's concession of five-year tax
holiday on two, three and four-star categories.
Contact: Sarovar Hotels and Resorts.
Tel: 022-6635 0800.
Fax: 022-6635 2766.
E-mail: mumbai.sales@sarovarhotels.com
Website: www.sarovarhotels.com
Infiniti Retail plans
Rs 800 crore expansion
Tata Group’s retail venture, Infiniti Retail, will invest
around Rs 800-crore for its consumer electronics and durables
stores Croma by 2010. The company will set up 100 new stores
in unexplored markets like Chennai, Hyderabad and Kolkata.
It will open its first store in Kolkata around October, while
the stores in Hyderabad and Chennai will be set up by the
next financial year.
Contact: Infiniti Retail Ltd.
Tel: 022-6761 3600.
Raheja Developers to develop SEZ in Gurgaon
Raheja Developers is planning to develop an engineering SEZ
with an investment of Rs 4,535 crore in Gurgaon. To be developed
on 257.5 acre, the SEZ will also house a 100-storied earthquake-resistant
building and 200 MW captive power plant. To be funded with
a mix of equity, debt and internal accruals, the project will
generate approximately 200,000 jobs in the coming 10 years.
Contact: Raheja Developers.
Tel: +91-11-4061 1111.
Fax: +91-11-4061 1110.
Sahil Group to develop three
residential projects in Pune
Sahil Group will develop three
residential projects in Pune with an investment of Rs 800
crore. The first project in Kothrud is spread across
36 acre and comprises 2,000 flats, while the second one in
Balewadi will come up on 21 acre. The third project, scheduled
to be developed in Kondhwa, is a top end residential complex
with just 40 flats.
Contact: Sahil Group.
Tel: 020-6644 1200.
Fax: 020-6644 1230.
E-mail: sales@sahilgroup.net
Website: www.sahilgroup.net
Olympia plans Rs 700-cr
residential project near Chennai
The Chennai-based Khivraj Group, among the promoters of the
Olympia Group, has announced Olympia's first residential project
near Chennai. The Rs 700-crore project coming up on Old Mahabalipuram
Road, is the first of a handful of projects planned by the
Olympia Group. The other promoters of the Olympia Group, which
set up the 1.8-million sq ft Olympia Technology Park, include
the Space Group, MK Group and the Dhoot Group. The group is
also planning a second project spread over 30 acre. Apart
from these two premium projects, the group is also planning
a sub-Rs 20 lakh apartment project and a premium residential
project near Sriperumbudur.
Contact: Khivraj Estates.
Tel: 044- 4211 9773.
VLCC to invest
Rs 400 cr for expansion
VLCC Healthcare plans a capex of
Rs 400 crore over the next two years to expand its presence
across its services, personal care and education verticals
in India and abroad. It is exploring the concept of residential
spas, for which it is looking for land on the Mumbai-Pune
Highway and Delhi-Jaipur Highway. The company has 126 VLCC
centres, which will be ramped up to 300 in the next year.
Gujarat will see an increase from three VLCC centres to nine
in the coming year and these new centres will be set up in
Rajkot, Surat and Vadodara, along with other locations.
Contact: VLCC Healthcare.
Tel: 0124-256 2026/2562027.
Fax: 124-256 3051.
E-mail: contact@vlcc.co.in
Ramco to open software development centre
Ramco Systems will set up a new software development centre
in Chennai at an investment of Rs 90 crore. The centre scheduled
to be ready in the next
18-24 months will be able to accommodate around 2,000 employees.
Contact: Ramco Systems.
Tel: 044-2235 4510. Fax: 044-2230 1859.
E-mail: info@rsi.ramco.com, Website: www.ramco.com
Real estate trends in India
A recent study on the most happening sector in India reveals:
l The Indian real estate market is the second largest employment
generator in the country.
l For every rupee invested in construction Rs 0.78 is added
to the GDP. It is the growth engine for development of over
269 allied industries.
l The real estate sector is expected to grow to $ 90 bn(approx
Rs 360,000 crore) by 2015 from $ 12 bn (Rs 48,000 crore) in
2004-05. Current growth rate is 30 per cent per annum.
l The organised segment is expected to grow from 2 to 20 per
cent by the end of the decade.
l Margins are higher in India (>20 per cent) as compared
to the developed markets (5-6 per cent).
l In the hotels and hospitality sector, over 50,000 rooms
will be added in the next 5 years.
l India has been ranked 5th in the list of 30 emerging retail
markets.
l 20 per cent growth rate is expected for the organised retail
segment by 2010.
l Commercial and office complexes, especially from the rapidly
growing retail, IT / ITES and hospitality sectors mushrooming
in major Indian metros, will increase to $ 11.5 bn (Rs 46,000
crore) over the next five years in 60 cities.
l Malls in Tier-I and Tier-II cities expected to grow about
250 mn sq ft by 2010 as against the present 40 mn sq ft.
l Over 20 million new housing units required in 5 years.
l The cumulative demand for space in major cities has been
estimated at 840-1055 mn sq ft. for 2006-2010.
l Participation of institutional finance in real estate is
just beginning.
Hiranandani, Lahari to set up SEZ
Hiranandani Group, along with Lahari Infrastructure Ltd, will
invest Rs 750 crore in a multi-services SEZ to come up about
40 km from Hydreabad. The SEZ ‘Hiranandani Upscale’
will house companies from information technology, pharmaceuticals
and banking sectors. Already, two pharmaceutical companies,
have committed to set up two lakh sq ft facilities each. The
SEZ will involve
Rs 12,000 crore investments over a period of 14 years.
Contact: Hiranandani group. Tel: 022-2571 9000
E-mail: contact@hiranandani.com
Website: www.hiranandani.com
Omaxe Greens gets environmental clearance
Omaxe has been granted NOC from Punjab Pollution Control Board
for ‘Omaxe Greens’, a project comprising low rise
group housing towers over an area of 16.5 acre in Derabassi,
Punjab. The complex will consist of 2 and 3 bedroom apartments
in 1,225, 1,250, 1,524, 15,90 sq ft.
Omaxe will also develop a theme township with golf course
over 400 acre at Naya Raipur. The Rs 1,200 crore project will
include the development of residential and commercial buildings,
golf villas and a hotel.
Contact: Omaxe. Tel: 011-4606 6333. Fax: 011-4189 6653.
Email: info@omaxe.com Website: www.omaxe.com
Hikal to set up 4 units, research centre
Hikal, a Mumbai-based contract research and manufacturing
player for pharmaceutical and crop protection companies, is
investing Rs 200 crore to set up four new manufacturing facilities
in Bangalore and Mumbai and a research and development centre
in Pune. The multi-purpose facility at Taloja in Navi Mumbai
to be set up at an investment of over Rs 30 crore will supply
active ingredients for crop protection products to Bayer CropScience.
Hikal is also setting a new pharmaceutical intermediate manufacturing
facility at Panoli near Mumbai. The two Bangalore units will
supply pharmaceutical products to Pfizer and Alpharma of the
US. The new research and development centre in Pune will undertake
contract research on processes for major pharmaceutical and
crop protection companies.
Contact: Hikal Ltd. Tel: 022-2757 4276. Fax: 022-2757 4277.
Website: www.hikal.com
Sembawang to develop IT tower for Lanco
Sembawang Infrastructure India Private Limited, a wholly-owned
subsidiary of Sembawang Engineering and Construction of Singapore,
has bagged the order for construction of an IT tower at a
cost of Rs 50 crore in the SEZ being developed by Lanco Hills
Technology Park Pvt Ltd.
This is a mega project coming up on 108 acre in Hyderabad,
which includes an IT park, residential towers, mall, multiplex,
hotels, recreation and other amenities. Sembawang will develop
8 mn sq ft of office space over
12 towers of SEZ and non-SEZ areas.
Contact: Lanco Hills Technology Park Pvt Ltd.
Tel: 040-4009 0400. Fax: 040-2311 6127. E-mail: sales@lancogroup.com,
Website: www.lancogroup.com
Rs 16,800-crore industrial corridor coming up in AP
Ras Al Khaimah (RAK) Investment Authority and Matrix Enport
Private Ltd have signed an agreement with the Andhra Pradesh
Government to develop an integrated industrial corridor with
an industrial complex, port facility, power plant and associated
infrastructural facilities on a 26-km stretch between Nizampatnam
in Guntur district and Vodarevu in Prakasam district at a
Rs 16,800 crore investment.
The project, to come up on 10,000 acre, will be one of the
first few port-based industrial corridors in the country and
will be completed in six years.
Besides significant upgradation of Nizampatnam Port, the project
will also include a 2,100 MW power project with assured cargo
traffic of eight mn tonne
per year of imported coal.
Contact: Ras Al Khaimah (RAK) Investment Authority.
Tel: 0971-07-2446 533/7251/7253. Fax: 0971-07-2447 202/7697.
E-mail: enquiry@rakinvestmentauthority.com Website: www.rak-ia.com
Matheran Realty to build low cost homes
London-based Eredene Capital will invest Rs 131.2 crore in
Matheran Realty, which plans to offer eight mn sq ft a year
of 300-500 sq ft low-cost units in the Mumbai metropolitan
region.
The company has awarded a Rs 4,800-crore contract to build
200,000 such low-cost housing units to Sterling Construction
System Ltd, an engineering and construction company. The first
MRPL project, an integrated township of four mn sq ft will
come up near Karjat station, near Mumbai.
Contact: Eredene Capital. Tel: +44-0-20-7448 8000. Fax: +44-0-20-7256
2797.
E-mail: info@eredene.com. Website: www.eredene.com
300 Reliance Jewels stores on the anvil
Reliance Retail, which recently forayed into jewellery retailing,
will simultaneously take the franchise route to open 300 Reliance
Jewels stores in the country by 2011-12. Of the 300, at least
100 will be franchises and 12 will be opened in Andhra Pradesh.
The size of the jewellery market in India is pegged at Rs
80,000 crore, and only three per cent
was in the organised sector, while 20 per cent was in the
hands of regional and local brands.
Contact: Reliance Retail. Website: www.ril.com
Phoenix Group plans Rs 1,000 crore expansion
Phoenix Group Global has embarked on a premium business hotel
project in the IT corridor of Bangalore, the construction
of which is in progress. It has acquired land adjacent to
the new international airport at Devanahalli. The group is
also at an advanced stage of discussion for the procurement
of sites for business hotels in Chennai and Hyderabad. Plans
are afoot to set up new hotel ventures at Kochi, Ahmedabad
and Jaipur.
The group plans to invest between Rs 1,000 to Rs 1,500 crore
in the real estate and hospitality sectors in the coming years.
Contact: Phoenix Group Global. Tel: 080-4035 5055.
Fax: 080-4035 5155. E-mail: exesec@phoenixgroupglobal.com.
Website: phoenixgroupglobal.com
Chandigarh attracts major hospitality players
Chandigarh is seeing a major boom in the hospitality industry.
Uppal Group in conjunction with JW Marriott is developing
a five-star hotel in Sector 35 at an investment of around
Rs 250 crore. Apart from this, Carlson Hotels, in association
with ECC Infrastructure, is opening the Radisson Hotel at
Zirakpur. Moreover, DLF, in a joint venture with Bharat Hotels,
is planning to build a hotel too.
Vipul Ltd, in collaboration with Sarovar Hotels, is coming
up with a
four-star hotel in Mohali. Sarovar Hotels, in synergy with
James Plaza, is
coming with James Park Plaza (five-star) which will come up
adjacent to the Taj. Other big players from the
hospitality sector, like Oberoi and Maurya Sheraton, have
also shown interest in setting up hotels
in Chandigarh.
With Chandigarh having been placed on the tentative list of
World Heritage Sites by the UNESCO, becoming India’s
first such city, it is most likely to get an added fillip
in its efforts to promote tourism and the hospitality sector.
Contact: Vipul Ltd. Tel: 0124-4065 500. Fax: 0124-4061 000.
Website: www.vipulgroup.in
Premji invests Rs 40 crore in Cicada Resorts
Azim Premji, Chairman, Wipro Limited, has taken a liking to
eco-tourism and has invested close to $10 mn (Rs 40 crore)
from his personal wealth in Bangalore-based Cicada Resorts,
which was started two years ago by a group of technology entrepreneurs
led by TG Ramesh.
Contact: Cicada Resorts.
Tel: 080-4115 2200. Fax: 080-4115 4500. E-mail: info@cicadaresorts.com,
Website: www.cicadaresorts.com
Mayfair Banquets to open 8 units by 2012
Mayfair Banquets, a subsidiary of the Ravi Ghai Group, is
all set to enter the hospitality segment and expand its presence
in the banqueting arena. By 2012, the venture will be operating
around 25 banquet units and eight hospitality units at an
investment of Rs 600 crore.
The venture had received funding to the tune of Rs 125 crore
from the Singapore-based Temasek Holdings. Projects will be
operational in Surat, Jaipur, Goa and Alibaug by 2010. The
company was also targeting the new special economic zones
coming up around Pune.
Contact: Mayfair Banquets.
Tel: 022- 4050 1111. Fax : 022- 2491 5555.
E-mail: mumbaisales@mayfairindia.com, Website: www.mayfairindia.com
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