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“Currently our 12 projects are undergoing in North India, which will be completed in the next three-four years. We will be investing about $1 billion (about Rs 4,200 crore) in developing these projects,” Landmark Group Director Amit Kumar said.
The company would fund the projects through internal accruals and raisings from private equities, he said. “We will try to fund our projects through our own resources, but also, we do not mind private equity players' participation. Starting from 25 per cent, we are ready to sell up to 40 per cent to PE players in different projects,” he added. The NCR-based firm has planned to develop three hotels, two five-star and one budget hotels in the next three years, which could entail an investment of about Rs 700 crore. Landmark Group is developing a 3,000-room five star hotel in Dharuhera and a budget hotel in Gurgaon with about 120 rooms. The other five-star hotel would come up at Bawal in Haryana, Kumar said. “We will invest about Rs 700 crore in three hotels. Hopefully, this figure will go up as we are planning to develop two more hotels in the coming years,” he said. The company on Thursday launched an IT park in Gurgaon, spread over 15 lakh sq ft of land. The construction work would start within four months and it would be ready in three years.”The IT project, Landmark Cyber Park, would have a saleable area of about 12 lakh sq ft and it will require an investment of about Rs 350 crore,” he said. The company also plans to sell about 25 per cent stake in Landmark Cyber Park to private equity funds for raising the money, Kumar added. Besides these projects, Landmark Group is currently developing 600 flats in a residential project at Gurgaon. Landmark Group has posted a turnover of Rs 430 crore during the last financial year. The net worth of the company, at present, stands at about Rs 1,350 crore. |
Source: Business Standard