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One More IT Park and SEZ Coming Up At Gachibowli
Posted by Pradeep Sadanapalli | August 25, 2006 | 444 views
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Loading ...Hyderabad-based ISO 9001-2000 Certified Company, Bhagyanagar India Limited(BIL) (Previously known as Bhagyanagar Metals Limited) is developing land in Hyderabad to set up IT parks. It also plans to set up an Special Economic Zone(SEZ). With this project the company will be fully diversified into a real estate and infrastructure development activity.
BIL is developing the Gachibowli land near the Microsoft campus at Hyderabad. The land is being developed for Visual Soft for Rs 380 crore. They will develop five lakh square feet in Phase I and 10 lakh square feet in Phase II.
BIL had bought 25 acres of land in Hyderabad near the Infosys and Wipro campus. The land was acquired in November last year. Bhagyanagar may develop it as an IT Park or an SEZ. It is also planning a shopping mall on 12 acres of land covering 2.2 million sq ft.
It is likely to apply for the SEZ approval in a week’s time. The cost of the project is estimated at Rs 490 crore. It may opt for a USD 15 million FCCB issue to fund the project. It is also planning a preferential offer to strategic partners.
BIL has tied up with M/s GuocoLand Limited of Singapore, a one billion dollar company listed in Singapore and M/s Gayatri Projects Limited, Hyderabad as strategic partners for bidding for HUDA Township Project & other projects on selective basis in and around Hyderabad.
BIL has been allotted land admeasuring 2.5 acres in the Hardware Park at Hyderabad which is close to the new International Airport by the APIIC. The Company is planning to construct a built up area of approximately 1,00,000 Sq ft with an estimated project cost of about Rs.20 Crores.
BIL has already made a foray into fast growing Realty Sector by acquiring grade A Grade IT space in signature buildings in Hyderabad and its clients include Microsoft, Fusion Technology etc. BIL is also exploring options for development of unutilized and underutilized industrial land for A Grade IT space and is talking to various developers of national repute.
About Bhagyanagar India Limited:
Founded in 1978, the Surana Group is now one of the country’s leading industrial houses, focusing on the niche areas of Telecommunications, Metallurgicals and Electricals.
BHAGYANAGAR INDIA LIMITED, a part of Surana Group was incorporated in 1985 with the main object of carrying on business in Ferrous and Non-ferrous metals. BHAGYANAGAR INDIA LIMITED was previously known as BHAGYANAGAR METALS LIMITED. The company felt the need for the name change as it is venturing into other businesses. BHAGYANAGAR INDIA LIMITED engaged in manufacturing of Telecommunication Cables, Copper Wire Rods, Conductors, Pipes & Sheets etc. CDMA Phones and its accessories, is now diversified into Investment and Infrastructure Business by investing in IT Parks and Entertainment related projects. It has been shifting focus to real estate and infrastructure business as the profit margins remain high in this sector.
It commenced its business by acquiring a Copper Rod Unit (India Extrusion) in 1985. Keeping in phase with potential growth and the high competition for Telecom products, the company has established additional unit at Goa for manufacture of Jelly Filled Cables. The major clientele for these cables are Bharat Sanchar Nigam Ltd and Mahanagar Telephone Nigam Limited. The Company is also supplying its products to Railways Defense and other Public/Private Sector organizations.
Over the years BHAGYANAGAR INDIA LIMITED has expanded its activities by acquisition, merger, diversification etc. Since inception it has ventured into manufacture of range of copper products such as – Copper Coils, Strips, Sheets, Flat pipes apart from PIJF Cables of various sizes, Polyethylene Compound and Auto annealing components, catering to the requirements of reputed Automobile companies like Maruti, Hyundai, Telco, Ashok Leyland, Mahindra etc.
Sources:
MoneyControl.com
The Hindu
Surana Group
Topics: SEZ, Real Estate |
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