DSK to enter infra sector

Construction and real estate company D S Kulkarni Developers Ltd (DSK) plans to enter the infrastructure sector too, focussing on building bridges, tunnels and airport construction, and modernisation.

The company has also forayed into the hospitality sector by announcing a 100-room three-star hotels in Pune.

The company has received an in-principle approval for setting up a special economic zone at Phursungi, 20 km from Pune, where it will invite global and Indian information technology companies to set up export-oriented units.

DSK Ltd chairman and managing director Deepak Kulkarni told reporters after the company's annual general meeting on Saturday last that the technical as well as financial collaboration with overseas partners will be accessed for the infrastructure sector initiatives, which will be implemented both in India and abroad.

Kulkarni said that the company is scouting for partners abroad for the proposed entry into the infrastructure sector.

"We will work with a US-based partner to pitch for the projects in the areas of tunnels, bridges and airport construction and modernisation," Kulkarni said, adding that a formal announcement of the joint venture with the US partner will be made in the next few weeks.

The company has made an entry into the hospitality sector as well. Kulkarni informed that the first of the hospitality projects is a 100-room three-star hotel coming up in DSK Vishwa "" a diversified-use residential colony being built by DSK.

"The hotel, being set up for an investment of Rs 50 crore will be complete and operational by the end of the next year," he added.

Kulkarni said the group has plans to be in the hospitality space in the overseas market, and will set up two joint ventures, in the UK and US respectively to set up hotels in those countries.

The joint ventures are being given final shape, he said adding that the JV with US partner will be 50:50 and the one in the UK will offer a 74 per cent stake to the local partner.

Describing the initiatives on the home front, Kulkarni said the company has decided to expand business in Chennai, Coimbatore, Hyderabad, Delhi and Goa. The company is on the lookout for land tracts in these locations to build townships, he said. DSK is already present in Mumbai and Bangalore with half a dozen projects so far.

Kulkarni said, the company has received an in-principle approval for its special economic zone proposed at Fursungi near Pune.

"This will be a largely technology SEZ for which we are going to hire an international agency who will market the project globally," he said. The details of the SEZ will soon be announced, he said.

For the various projects the company wants to put in place an investment of Rs 1,000 crore will be required, Kulkarni said. About Rs 400 crore of this will be raised internally and the rest will come from a combination of overseas funding and other finance options, he clarified.