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Riding high
The Indian economy with its underlying strengths could become a beacon of hope in an otherwise bleak global environment, said SP Hinduja, Chairman, Hinduja Group, as the company announced its plans to foray into the Indian real-estate sector through Hinduja Realty Ventures Ltd (HRVL), the flagship real-estate company of the group. The group recently acquired a land bank of over 3,500 acre in metros like Mumbai, Chennai, Hyderabad and Bengaluru to develop integrated residential and commercial townships and SEZs, with hospitality, healthcare and related facilities. These projects will involve an investment of $10 billion to $15 billion over the next five years. HRVL has adopted a safe sustainable business model by undertaking development on a valuable land bank owned by the Hinduja Group, thereby unlocking the value of these assets through an integrated development. Designing and developing these assets will enable a holistic approach to the space creation. In its first phase of business expansion, HRVL will focus on Hinduja Group's portfolio of FDI-compliant properties in Bengaluru and Hyderabad. Simultaneously, it will also acquire new assets, plots and sites from third parties for development.