 "Kalyani Developers plans to invest Rs 5,300 cr on housing, hotel projects")
Bengaluru-based Kalyani Developers plans to invest around Rs 5,300 crore to develop housing and hospitality projects in South India.
In a statement on Thursday, the company announced its foray into the residential segment with three projects planned in North Bengaluru, Whitefield and Kanakapura Main Road.
The company is also planning a mixed-use development in Hyderabad.
"The overall investment for these projects would be around Rs 4,500 crore over the next two years. The company is also planning Rs 800 crore investment in two hotels comprising 300 rooms each in North Bengaluru," it added.
"Over the past three decades, we have established a strong reputation in commercial real estate, hospitality, automobiles (with more than 75 showrooms in Bangalore, Mysore, and Hyderabad), and renewable energy...," A Mohan Raju, Managing Director and CEO, Kalyani Developer, said.
The residential segment presents a significant opportunity for the company to leverage this legacy and expertise, he added.
"The construction of all projects will be handled by our in-house team, which boasts over 30 years of expertise and has successfully delivered 12 million+ square feet of commercial spaces," Raju said.
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