| The Rs 1,100-crore TTK group firm, which initially planned to sell its factory land, will either build an office complex or a retail mall on it to add another revenue stream. Investment for a mall project is said to be around Rs 150 crore while an office complex will cost about Rs 100 crore. |
| According to TT Jagannathan, chairman, TTK Group of companies, The company's board felt it desirable not to sell the land outright but have a share in the property development to create another revenue stream. |
| "The company has signed a joint development agreement with the Salarpuria Group to execute the commercial development on its factory land," he added. |
| The company owns 6.5 acres at Dooravaninagar, Old Madras Road, on which the Bangalore unit was housed. After shifting many of its operations to Tamil Nadu and Uttarakhand from Bangalore, the company plans to exploit the land for commercial purpose. |
| TTK Prestige roped in Ernst & Young to identify real estate developing agency. It is awaiting clearances and approvals from the Bangalore Development Authority and local authorities to commence work on the project. |
| Jagannathan said the manufacturing facility at Uttarakhand was ready. The implementation of the new ERP"�SAP to cover all manufacturing units, sourcing and managing retail stores is also underway. All these were done at a cost of Rs 20 crore, he said. |
| "To improve company's productivity, we have entered into a long-term settlement with the workmen in the Hosur complex. The implementation of this settlement is progressing satisfactorily," he added. |
| TTK Prestige is planning to focus on consolidating the gains made in the last two years through launch of new products, extension of the brand to new categories and expansion and deeper penetration of the market. |
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