The Hindu Business Line : Realty majors make beeline for Hyderabad

Hyderabad April 20 From domestic realty majors to global players, Hyderabad is fast emerging as a major investment destination. Riding on the conducive business climate and infrastructure boom, several companies have unveiled ambitious projects.Mantri Developers from Bangalore, Housing Development and Infrastructure Ltd (HDIL), Mumbai, Hiranandani, Kalpataru and Mantri Realty from Mumbai, DLF Group from New Delhi, Kumar Builders from Pune, Dubai-based Emaar Properties and DAMAC Group, are the latest in the line to firm up plans to be part of the Hyderabad realty growth story.

In the ongoing infrastructure boom, Andhra Pradesh has much to cheer about. The State prominently blips on the radar of top infrastructure companies' long-term plans as well.

The reasons for the trend are not far to seek. "Andhra Pradesh makes an attractive proposition for infrastructure investments. Its cities are less congested and have inherent advantages in terms of weather, growth in IT, pharma and other industries," Mr Hussain Sajwani, Chairman of DAMAC Holdings, told Business Line here.The company is actively considering Andhra Pradesh for investing over $1 billion.

The Mumbai-based Mantri Realty has unveiled plans to invest Rs 800 crore near the Hitech city area to develop an IT park and two residential townships. "Hyderabad is a vibrant market and the project is expected to achieve sales of Rs 2,500 crore,'' said Mr Sunil Mantri, Chairman of the company.

Industry observers see the trend as only the tip of an iceberg. "There will be significant investments in infrastructure over the next one year when the international airport gets ready," says Mr L.G. Rao, General Manager, Radha Realty Corporation.

Agrees Mr S.N. Reddy, Chairman, Builders' Association of India, AP centre. "There has been a marked increase in the construction activity in the State on both the public and private fronts and we expect this to ramp up significantly," Mr Reddy said.

The huge demand for quality real estate infrastructure in the city is bound to attract large companies from outside. "We will see `big ticket' projects spread over 20,50, 100 acres with quality infrastructure coming up," said Mr A. Ayodhya Rami Reddy, Chairman of Ramky Group, which is into infrastructure projects and real estate development.

Mr R. Srinivas Reddy, Chief Transformation Officer of Indu Projects Ltd, said this is a general phenomenon in the industry. Upon successful delivery of the projects in the hometown any company would expand its horizons in the region followed by national and international expansion.

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