KOLKATTA: FMCG company Emami Limited has decided to float a wholly-owned subsidiary to make a foray into the real estate sector.
A company official told PTI that Emami had identified realty as a major opportunity which would also help in mitigating the risks of the FMCG business.
Sources said that with liquidity in excess of Rs 100 crore, the company was well poised to enter the sector.
The subsidiary would be formed by the end of March or April and would take up select projects where the returns would be high and quick.
The subsidiary would also take up projects like IT parks, shopping malls and residential complexes which would have an estimated payback period of three years.
Besides real estate, Emami was also looking at acquisitions in India and abroad for inorganic growth.