Vipul Infrastructure to invest Rs 5,000-6,000 cr in next 3-4 years

New Delhi, Sep 26 (UNI) Delhi-based Vipul Infrastructure Developers Ltd, which had developed Global Business Park and Millennium Plaza (in partnership with Unitech) in Gurgaon, will invest Rs 5,000-6,000 crores in real estate projects in various states, in the next 3-4 years.

The company has multiple projects under various stages of development in Gurgaon, Faridabad, Ludhiana, Maharashtra and Hyderabad, which call for investments to the tune of more than Rs 5,000 to Rs 6,000 crore in next three to four years.

Among all projects, the biggest is 150-acre Vipul World, an integrated township on Sohna Road, Gurgaon, where it has developed a Tech Square for IT company Dell.

''We have already started work on this project with an initial investment of Rs 450 crore. The township is expected to be complete in 30 months from now,'' company's Senior General Manager (Sales and Marketing) Brijesh Bhanote said here today.

The company also has integrated townships in Ludhiana (120 acre), Faridabad (115 acre) and Hyderabad (400 acre). ''The expected investment in these two projects will be Rs 150 to Rs 175 crore each,'' he informed reporters.

Work on the township in Ludhiana will begin only after January 2007, when the company expects to obtain the layout approval, whereas the Faridabad project is set to complete by December this year. For the Hyderabad integrated township, Vipul Ltd has bought land and is about to finalise the layout.

A Rs 175-crore hotel-cum-mall is under construction in Amritsar which, Mr Bhanote said, the company had planned keeping in mind the huge demand for hotel rooms by tourists.

In Nagpur, Maharashtra, the company has undertaken the development of a 70-acre IT Special Economic Zone (SEZ) at the initial investment of 50 crore. ''The state government has alloted the land to us and the work will start sometime in December or January,'' Mr Bhanote said.

Also, the company has received an in-principle approval from Haryana Government to build a 150-acre ITeS SEZ in Gurgaon and is looking for suitable land near Sohna Road.

''The financing of all these project will be done through bank loans and company's accruals,'' company's Director Moti S Masand said.

The company today launched 'Tatvam Villas', spreading over an area of 52 acre, as a part of 150-acre Vipul World.

The Rs 500-crore project has 290 villas spread across 233 sq ft to 960 sq ft supported by power backup, 24-hour water supply, security system, and communication facility.

''The company has tied-up with ICICI Bank to provide easy financing to potential buyers of villas that cost anything between Rs 1.87 crore to Rs 5 crore,'' Mr Masand said.

The company has already invested Rs 250 crore in acquisition of land for the project.

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