Panoramic plans Rs 3000cr township in Jaipur

Panoramic Universal, a software and IT solutions company,  is evaluating a real estate proposal for setting up a township in the pink city, Jaipur. The company has forayed into hospitality business but this would be the first real estate project it seeks to develop. Details of the project would be disclosed in the next financial year.

According to a release issued by the company to the BSE, the proposal is for a gated township project spread over 160 acres valued at around Rs 3000 crore having hotels, residential and commercial complexes, hospitals, etc. The project is to be funded with a mix of debt and equity with real estate investors and private equity partners to be invited to fund the project.