The Hindu Business Line : Bengal Shrachi looks beyond Bengal

Kolkata April 3 Bengal Shrachi Housing Development Ltd, a joint sector company of the Shrachi Group and the West Bengal Housing Board, has firmed up a "geographical diversification-cum-asset diversification" strategy. The company, whose operations were hitherto confined to mainly construction of dwelling units in the city of Kolkata and its fringes, has now firmed up plans to not only diversify its asset portfolio but also extend its footprint beyond Kolkata and even outside West Bengal.

It has already firmed up plans to diversify into the construction of townships, IT parks, business parks, etc.

Construction projects

According to Mr Rahul Todi, Managing Director of Bengal Shrachi Housing Development Ltd, over the last 7-8 years, the company has completed 16 projects valued at around Rs 160 crore.

In the pipeline are 10 more projects, including malls, the implementation of which would together necessitate an additional investment of Rs 900 crore.

Already, the company has extended its footprint to Tier II cities in West Bengal, such Durgapur and Bardhaman.

The company is setting up a Rs 400-crore township in Bardhaman that would be spread over 250 acres of land. A shopping mall is also being set up in Durgapur.

Outside State area

In terms of geographical diversification, Bengal Shrachi has embarked upon two projects in neighbouring Orissa. The `Bhubaneswar Neo City' project was being set up on 14 acres of land on the Cuttack-Bhubaneswar National Highway.

Work on the Rs 120-crore project is expected to begin soon after the receipt of necessary approvals.

A 4.5 lakh sq.ft shopping mall would also be set up in the Jaydev Vihar area of the city at an estimated investment of Rs 100 crore, Mr Todi said, adding that Bentel of South Africa has been engaged for doing the architecture of the Bhubaneswar mall.

According to him, Bengal Shrachi was keen to set up housing projects and shopping malls in Patna.

"The other natural markets we are looking at are Ranchi, Jamshedpur and the North East, especially Guwahati", Mr Todi said.

More Stories on : Outlook | Real Estate & Construction | West Bengal

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page