The Hindu Business Line : P.S. Group aims at pan-India presence

Over the next three years, the company will set up five shopping malls, 40 million sq. ft. in the form of townships and residential complexes and 10 million sq. ft. of IT space in the form of SEZs.

Addressing a news conference here, Mr Pradeep Kumar Chopra, Director of the PS Group, said the implementation of the projects at hand would entail an investment of Rs 1,500-2,500 crore. While the promoters would pump in 20 per cent of the funds that would be required, another 13 per cent was being raised from hedge funds. The company was firming up plans to float an initial public offering within the next two years.

The projects in Chennai include the setting up of a shopping mall at Velachery, a housing complex at Padur on Old Mahabalipuram Road and a housing complex next to the Tamil Nadu Infotech Park at Siruseri. In Coimbatore, it will set up a shopping mall and an upmarket residential complex at the City Centre.

In Chandigarh, an IT SEZ is proposed to be set up. In Pune, the group has proposed to set up a special township project at Hinjewadi next to the Rajiv Gandhi Infotech Park. In Jaipur, the Group is setting up India's first education SEZ in collaboration with the Government of Rajasthan.

On Thursday, the group also unveiled its 100th project, Trinity Plush — a high-tech retail-cum-commercial complex — in Kolkata.

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