GMR to foray into realty, aims pan-India presence

Infrastructure major, GMR Group today said it intends to venture into the residential and commercial development space beginning with Bangalore and Hyderabad, before expanding its footprint across the country.

The group is scouting for partners who will bring in industry-specific skills to the table, V Jayaraman, COO (property development) of the company said here.

"In addition to our existing business interests, we are very much interested to foray into residential and commercial development space. This will help us to achieve our much-desired goal of achieving a pan-India presence," he added.

For starters, the company has identified land in Banglaore and Hyderabad and is now in the process of acquiring it."We have acquired some land and in the process of acquiring more," he said. Asked whether the group has plans to make an entry into the eastern region, Kolkata in particular, he said since we are looking for a pan-India presence, Kolkata obviously falls on our radar.