Emami to invest Rs 3,500 cr in diversified business portfolio

Kolkata, May 05 (UNI) Emami Group has embarked upon a massive diversification plan, investing Rs 3500 crore in paper, hospital, retail, real estate, cement, power and bio-diesel sectors in the next two to three years, besides the FMCG sector, the company's core business.

Speaking to UNI, Emami Group Director Aditya Agarwal said here yesterday that the company had identified 'realty' as another potential business opportunity. A wholly owned subsidiary called "Emami Reality" had been floated to lead this business.

'' The newly formed 100 per cent subsidiary will also give realty business an independent and separate focus apart from utilisation of Emami's war chest, '' he said.

The "realty" sector would be the "mantra" to enhance profitability and shareholders' wealth, though the company would not move away from its core FMCG business, he added.

A few projects, involving development of IT park, shopping mall, residential complexes, had been identified. These projects would also help utilise Emami's idle resources in higher return generating business, he said.

Elaborating the company's plans in the healthcare sector, he said, '' The Advanced Medicare&Research Institute Limited (a joint sector with West Bengal government) will come up with a new 300-bed hospital near Mukundapur in South 24 Parganas. '' '' At present AMRI Hospitals has 530 beds. With addition of the new hospital, the number of beds would go up to 830. The new hospital will facilitate various specialty treatment for women and children. A special orthopedic cell would be opened which would offer treatment to patients of all age groups, '' he stated.

With a major thrust on the healthcare sector in the eastern region as a whole, the company had chalked out plans to set up multi-facility hospitals in four state capitals of eastern India-- Ranchi, Bhubaneshwar, Raipur and Patna.

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