The Hindu Business Line : Panoramic to enter realty sector

Panoramic Universal Ltd has announced its decision to enter the realty sector. Panoramic is already engaged in expanding its hospitality business, with plans to add roughly 20 hotels to its portfolio in India over three years.

According to Panoramic group Chairman, Mr Sudhir Moravekar, the experience the company has gained in setting up greenfield projects in India has given it the necessary knowledge base to venture into realty. The company also plans to acquire a travel agency in India and the US to cater to inbound and outbound tourism from the respective countries. Panoramic expects the addition of the two travel agencies to increase its turnover by 50 per cent by 2008. Panoramic's consolidated turnover for the last fiscal was Rs 65 crore.

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