Bhagyanagar India plans IT park at Hyderabad

New Delhi, Dec 27 (UNI) Hyderabad-based Cable maker Bhagyanagar India Ltd, formerly Bhagyanagar Metals Ltd, today said it has planned an IT park at Hyderabad with a total outlay of about Rs 120 crores.

The IT park will have a built up area of 8,00,000 sq ft in six acres of plot, out of 12 acres, the company said in a statement.

It has sold the balance six acres of land at Uppal, an industrial suburb near Hyderabad to Mumbai-based unlisted company Himadri Enterprises Pvt Ltd for Rs 53.52 crore.

The proceeds of this sale will be used for constructing the IT park, which would include a shopping centre and entertainment complex, the company added.

The company has also commenced work on the hardware park and residential projects near Hyderabad, it said.

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