Indu Projects becomes end-to-end service provider

Hyderabad-based infrastructure development company, Indu Projects Limited, has now become an end-to-end service provider in the infrastructure domain.

Meaning, besides developing the infrastructure, it also sources the land for its clients, gets all the required 16-odd permissions and negotiates with the government officials when required.

"We, therefore, handhold the multinational companies that intend to invest in the country, but do not know how to go about it. So now they do not need to set up a full-fledged office here but can manage with a liaison officer," I Syam Prasad Reddy, managing director of Indu Projects Limited, told Business Standard.

The company is in the final stages of tying up with a European company that is looking at investing Rs 1,000 crore in Andhra Pradesh to set up retail outlets across the state. The European company, according to Reddy, is looking at investing Rs 10,000 crore in the country.

"This is a new kind of outsourcing wherein all the services are transferred to us and we charge fees for each service. We have also developed separate teams for this purpose," he added.

Indu Projects is also in talks with a multinational retail chain that has so far set up just one outlet in India but is looking at expanding.

"The retail major is looking at setting up 40-50 stores in the country with each store being one lakh sq ft in size and requiring an investment of Rs 100 crore each. In Andhra Pradesh, they are looking at Hyderabad, Vizag and Vijayawada," Reddy said.

Indu Projects is looking at 40 per cent of its revenues to come from the services business by 2010.

The company is also looking at setting up an IT Park and a BT Park with R&D units in the Knowledge Corridor.

"We, along with Bangalore-based Embassy Group, have identified around 55 acres of land and will be developing commercial space in that area. The legal vetting for the land is still in process," Reddy said. The company will also be developing service apartments in that area.

Besides, it is also looking at developing a residential area on 65 acres of land near Hitech City. The space will accommodate 1,000 units and will have added services like a shopping mall.

"We are doing this in tie-up with Embassy Group, Avinash Bhosle Group (Pune), Unity Infraprojects Limited (Mumbai) and Soma Enterprises (Hyderabad)," he added.