Godrej Properties plans Rs 300-400 cr investment in West Bengal
Manager (corporate development) Pirojsha Godrej said that the company had plans to enter all major cities for malls and residential real estate projects. Addressing a press conference to announce the launch of CESC-Godrej Plaza, the first retail initiative from Godrej Properties, Mr.Godrej indicated that the company is talking to real estate funds for its projects and may even consider tapping the capital market within the next 24 months.
The CESC-Godrej Plaza would is a multi-brand mall planned at Park Circus in Kolkata. The project costing Rs. 80 crore is likely to be completed by March 2008, and will be designed by UK based consultant John Robertson of RTKL Ltd.
Godrej Properties has 11 million square feet under development and proposed development. Of this, Kolkata accounts for around four million square feet. Godrej Properties is 80% owned by Godrej Industries and the company earned a profit of Rs. 20 crore in 2005-06.
By INRnews Correspondent
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