Rose Valley Group, the Rs 1,500 crore diversified conglomerate, is planning to invest Rs 1,000 crore this financial year to foray into television entertainment, new hotel and real estate projects, as well as in setting up a food park.
Gautam Kundu, chairman of Rose Valley Group, said, “We are investing Rs 500 crore in setting up four television channels - a general entertainment channel, a news and current affairs channel, a music channel and a channel on cartoons and animation. All the channels will be in Bengali as we believe there is a huge demand for regional language entertainment.”
The entertainment channels will employ over 450 people.
“We have also sought 1,000 acres from the West Bengal government for setting up a food processing park here. We intend to make jams and jellies, among other items, and sell them under our own brand name,” Kundu said. The company also intends to set up eight new hotels in East India, in addition to its existing eight hotels.
“We are investing close to Rs 300 crore to set up eight new hotels. We currently have 1,15,000 rooms across eight hotels of ours and we intend to add 10 lakh rooms more this financial year. The rooms will command a tariff of Rs 1,250 to Rs 20,000, depending on property and location,” Kundu said. The company is also investing Rs 200 crore in its real estate business. It is working on new residential projects across 14 states in India. The residences are priced between Rs 1250 and Rs 4,000 per sq ft.
