Ambuja Realty plans Rs.1,065 crore investment

Kolkata, March 11 : Real estate company Ambuja Realty plans to invest Rs.1,065 crore over the next three to four years on commercial and residential complexes and business parks, the company's chairman said here Thursday.

"We have plans for three more business parks in Kolkata -- two in Salt Lake Sector V and one in Rajarhat," company chairman Harshavardhan Neotia said after inaugurating first phase of Ecospace business park in New Town.

The three business parks would require an investment of around Rs.295 crore.

Apart from these business parks in the city, the company would also take up commercial and residential complex project in Siliguri in Darjeeling district (Rs.250 crore), Haldia City Centre project (Rs.70 crore) in East Midnapore, commercial complex project in Patna (Rs.300 crore) and Raipur commercial complex project (Rs.150 crore), he said.

Most of the investments would be done through internal accruals, he said.

Talking about the first phase of the Ecospace business park, Neotia said almost 85 percent space of the park is already occupied by various companies.

Corporate houses at Ecospace include Bajaj Allianz, HDFC Bank, Voith, Thyssenkrupp, Indus Towers and Bayer CorpScience.

The second phase of Ecospace would be completed in a year, he said.