Media Video launches Rs 200 cr IT park in Gurgaon

Mumbai, Apr 3 (UNI) Media Video has launched an IT park in Gurgaon, Haryana worth Rs 200 crore, following a court's order sanctioning the merger of six companies with Media Video.

The companies jointly hold land in Gurgaon, which will be used to set up the IT project where the total saleable area is four lakh sq ft, it informed the Bombay Stock Exchange (BSE) today.

Located off national highway no. eight, the project will offer excellent business advantages to IT and ITES firms and will be designed by a world-renowned architect.

The company also plans to enter into a MoU with a leading MNC, which will relocate to the IT park by paying a much lower rent than its present location.

With this project, the company now has three construction projects worth Rs 580 crore - also including the NCR residential project and the Haryana township projects, which were announced earlier.

The company is also planning to acquire land for future projects, for which it has already set aside Rs 320 crore.

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