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Landmark Group to invest Rs 4,000 cr in 12 projects

Landmark Group to invest Rs 4,000 cr in 12 projects
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First Published: Thu, May 15 2008. 04 25 PM IST
Updated: Thu, May 15 2008. 04 25 PM IST
PTI
New Delhi: Real estate developer Landmark Group today said it will invest over Rs 4,000 crore in developing 12 properties across the northern region in the next 3-4 years.
“Currently our 12 projects are undergoing in North India, which will be completed in the next 3-4 years. We will be investing about one billion dollar in developing these projects,” Landmark Group Director Amit Kumar told reporters here.
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%, we are ready to sell up to 40% 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 today 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.
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First Published: Thu, May 15 2008. 04 25 PM IST