Flawless Diamond forays into real estate business

New Delhi, Nov 3: Flawless Diamond India Ltd today announced its foray into the business of realty development and construction with an initial investment of Rs 50 crore.

''Realty development and construction business is growing well and with the management's vast experience in this field it is being decided to tap the best available opportunity in this field,'' company's Chairman Kamal U Jain said.

The company will initially focus on developing shopping malls, residential complexes and construction business and later on take up the infrastructure projects and government contracts also.

Mr Jain said this business expansion will enhance the intrinsic value of the shareholders.

UNI