Kochi, Nov 18: Kerala-based PVS Apartments, a part of the KTC Group, is planning to expand to other south Indian cities to set up residential and commercial complexes, KTC Chairman P V Chandran said today.
Addressing a news conference here to announce the Company's first residential complex at Aluva near here, Mr Chandran said the group had acquired land in Bangalore, Coimbatore and Chennai.
Projects would be started in these cities within a year's time, PVS Apartments Vice-President K P Rajeev said.
Located just 50 metres away from NH 47, the project would be completed in 36 months time. It would consist of 174 apartments, which would be a mix of duplex and three and two bedroom apartments.
The cost would be Rs 2,000 to Rs 2,140 per sq ft, Mr Rajeev said.
The complex, consisting of three different towers, spread over 1.7 acres of greenery was located close to the Periyar river.
PVS Apartments which had a turnover of Rs 25 crore last year, had successfully completed half a million sq ft of luxury living spaces in Kozhikode city, he said.
The KTC Group, which had a turnover of Rs 860 crore last year, had diversified interests including in healthcare, plantations, print media, education, food processing, film making and distribution and auto and fuel dealerships.
Mr P V Gangadharan, Managing Partner, PVS Apartments, and Mr P V Nidhish, Partner, PVS Apartments, were also present at the news conference.