KSL sets up plans for pan-India based real estate programme

Chennai, Mar 13 (UNI) The Mumbai-based leading textile and yarn manufacturer, KSL and Industries Ltd has set up major expansion plans to develop real estate on a pan-India basis.

With development plans in place for 15 projects including residential, commercial, retail, IT park, hospitality and warehousing, the company is geared to create world-class properties, its Chairman Saurabh Tayal said in a release here today.

''The company enjoys a land bank of around 18.25 million sq ft and we would roll out the projects in a phased manner over the next 12 to 24 months,'' he added.

The company's Nagpur project, Empress City, a luxurious township project, with a total expenditure of Rs 600 crore, comprising a five star hotel, is expected to be ready in the next few months. It has entered into an agreement with Taj Hotel Resorts and Palaces to manage the five-star hotel at Empress City.

''We have adopted a unique development model under which the realisations from the developed projects would be ploughed back to develop the remaining part of ongoing projects, thus taking care of the funding requirements,'' Tayal said.

Total investments estimated wouls to be around Rs 2,500 crore in the development of various projects, he added.

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