Infinite India invests USD 150 mn in Maytas Properties

Hyderabad, Feb 5 (UNI) Maytas Properties Limited today announced that Infinite India Investment Management has invested US Dollar 150 million in some of its upcoming projects.

A company release said apart from rapid expansion plans, a part of the fund would be used for developing the next phase of Maytas Hill County, a flagship project in Hyderabad.

The release quoted Maytas Properties Limited CEO K Thiagarajan as saying, ''We are delighted to partner with Infinite India. The investment will not only increase the momentum of our expansion plans but also provide us access to Infinite's network in the real estate sector.'' Infinite India Chairman Karthik Sarma said, ''our investment in Maytas Properties is in line with our business strategy of partnering with top players in the real estate space. This investment is our largest investment in India to date.'' The Phase II Maytas Hill County would include a nine-million sqft IT SEZ and 28 million sqft residential development.

The fund would also be used for acquisition and development of major residential and commercial projects in Hyderabad, Chennai, Bangalore, Nagpur, Vijayawada, Vizag and Kochi over the next six months, the release added.

UNI VA AJ 1817