RJ Corp to take up residential projects in Lanka

New Delhi, Oct 11 (UNI) RJ Corp, a diversified Rs 1,200 crore group, today said it will invest over Rs 300 crore to build residential projects in Colombo and Kathmandu.

The Kathmandu project will involve Rs 250-300 crore, while the Colombo project to set up a fourty-storey buliding, will be build at a cost of Rs 4.4 crore, RJ Corp Chairman Ravi Jaipuria told reporters here.

The construction activities to be carried out at the firm's real estate arm Jaipuria Group are expected to begin from December this year and are expected to be completed in a two-and half years time.

The initiatives will be funded fully through internal accruals.

Mr Jaipuria said the group will continue to focus on its real estate activities in India. ''Finance is not a constraint for us, however, land remains the main worry. We are looking at all major cities and will take up projects as and when opportunities arrive.'' Focussing more on Northern regions, it has identified some regions in Ghaziabad, Gurgaon and Agra. The group has already set up residential townships in Indirapuram and Kaushambi in Ghaziabad.

The company today also annouced that it will pump in Rs 80-100 crore to market Disney branded merchandise, under an exclusive franchise agreement with Walt Disney Company (India).

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