BSEL forays into real estate

Kirit Kanakia promoted BSEL Infrastructure and Realty Ltd is entering the emerging segments of residential townships, IT Parks and hospitality. The company is also eyeing other emerging real state markets outside Mumbai city.

It has already built a signature IT Park just outside Vashi station with 2.5 lakh square feet of quality space, which has attracted companies like Nabard (4,000 sq ft), ITM (15,000 sq ft), Metlife (6,000 sq ft) and Alfa Laval (7,000 sq ft). And it is scouting around for land in Navi Mumbai for its township plans.

"Our strategy is to establish ourselves in emerging segments such as IT parks, residential townships and hospitality where we see a lot of growth opportunities," said Shashank Joshi, managing director, BSEL.

BSEL has also pitched for developing a leisure and recreational park at Khevadia in Gujarat with 7 star and 3 star hotels, malls and pilgrimage thrown in for good measure. The recreation zone will offer boating downstream from the Narmada dam at Khevadia.

An eco zone which will house a commercial plantation will also come up along side the the tourist zone, said Joshi. Around 140 hectare of land will developed as agricultural and horticultural area, he said.