KSR Constructions plans malls in Hyd

To develop various projects in the country in partnership with Singapore firm

Hyderabad-based real estate company KSR Constructions will be developing various projects in the country in partnership with Jurong India. The projects range from residential townships to shopping malls and five-star hotels in the country.

Jurong India is the member of Jurong International, wholly-owned by JTC Corporation, Singapore. While KSR will be the promoter and developer of the ventures, Jurong will be the construction managers providing technical support through master planners, architects and engineers.

With this partnership, KSR Constructions will be developing a Rs 150-crore residential township in Vizag comprising 1,500 apartments.

KSR is also looking at developing villas, IT Park and a golf court in Chennai in an area of 400 acres. It also has plans to develop a five-star hotel and villas in Ooty.

Speaking to Business Standard, B G Reddy, director, KSR Properties (P) Limited, said, "On a 25-acre property in Madurawada, in Vizag, we will be developing 11-storeyed apartments. We have already got environmental clearance and the project is likely to be completed within the next 18 months." This project is being done in partnership with Vuda.

Besides, KSR also has plans to develop two shopping malls in Hyderbad, one at Miyapur and the other at Madhapur. Each shopping mall will also have a 6-screen multiplex. "We are looking at a size of at least four-five acres each for developing the malls. Although we have zeroed in on the land, the projects are still in the formulation stage and we,therefore, cannot disclose the investment figures," Reddy said.

Part of the investments for all these projects will be sourced internally. Besides, KSR is also looking at getting some funds from US-based venture capitalists. The Rs 200-crore company has plans to reach the Rs 1,000-crore mark in the next three years.

KSR Constructions entered into a partnership with Jurong around two years back and according to Reddy, this is a strategic partnership that will continue for the next couple of years as well. Jurong International is a multi-disciplinary global organisation with project presence in more than 23 countries.

Some of the projects that Jurong has done in India include International Tech Park in Bangalore, i-Labs Campus in Hyderabad, Visakhapatnam Urban Development Authority (Vuda) housing project in Visakhapatnam and Raheja IT park in Pune.

Internationally, it has done projects like Biopolis in Singapore, Suzhou Industrial Park in China, Science Park in Singapore, Detailing Strategic Economic Development in UAE and Camerley Industrial Park in Phillipines.