NEW DELHI, March 3: Zuari Industries arm Zuari Infraworld India Ltd has partnered with Gangothri Developers to develop a housing project in Hyderabad with an investment of more than Rs 1,500 crore.
In a regulatory filing on Monday, Zuari Infraworld India said the company has partnered with Gangothri Developers for a premium residential project, Zuari Gangothri Tribhuja, in Kollur micro market.
Spanning across 9.4 acres, this upscale development is being executed by Gangothri Group, with Zuari Infraworld serving as a development manager.
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“With an estimated project cost of more than Rs 1,500 crore, Zuari Gangothri Tribhuja will feature nine high-rise residential towers.”
There will be 1,730 apartments in this upcoming project.
The project has a saleable area of 3.8 million (38 lakh) sq ft and a total development area of 5.3 million (53 lakh) sq ft.
Akshay Poddar, Promoter, Zuari Group, said, “Our group has been a major contributor to the core sector growth of the country. Having started our journey in the Hyderabad region with cement, we are now excited to take it forward to the Hyderabad real estate market.”
“We believe Hyderabad is one of the fastest growing cities with a bright future and we want to be a part of it. Our Group’s real estate arm, Zuari Infraworld, has evolved into a key player in the real estate sector, continuously expanding its presence across India and internationally,” Poddar said.
Alok Banerjee, CEO & Director, Zuari Infraworld India Limited, said: “The entry of Zuari Infraworld in Hyderabad is a milestone in our growth story.”
Zuari Infraworld India Limited (ZIIL), a wholly-owned subsidiary of Zuari Industries Ltd, has delivered over 3 million sq ft of residential and commercial developments in Dubai, Mysore, Goa, Bengaluru, housing more than 1,500 families. (PTI)
