Group is currently sitting on a land bank of around 1,000 acre in the metro areas of the country and plans to leverage the asset
Hyderabad: London-based business family the Hindujas say they have aggressive plans for India’s booming real estate and health-care sectors.
“We are in the process of developing two big projects,” said Sanjay G. Hinduja, who heads group company Gulf Oil Corp. (GOCL) in India.
The Hinduja group is currently sitting on a land bank of around 1,000 acre in the metro areas of the country and plans to leverage the asset.
“To begin with, we are developing a 40 acre property that we own in Bangalore at an investment of over Rs500 crore,” Sanjay Hinduja said.
GOCL managing director Subhas Pramanik said the company has finalized designs of a Singapore-based architect for the project. The project would involve construction of a 5 million sq. ft facility for the IT and ITES businesses.
The Hinduja group is also in the process of setting up of a Knowledge Park in Hyderabad involving an investment of Rs800 crore. The Park will cater to IT, ITES, biotechnology and health-care sectors.
GOCL owns several large properties in Bangalore, Hyderabad, Rourkela and New Delhi. Sanjay Hinduja said the group is also looking at sectors such as health care, insurance, financial services , oil and energy. The group presently runs a charitable hospital in India, but plans to take the health- care business to other cities on a commercial scale.
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