The Hindu Business Line : Mir Realtors entering budget housing sector

Kochi, Dec. 3 Mir Realtors, the construction and real estate arm of the South India based Mir Group, is planning to enter the budget housing sector shortly.

The budget housing segment has a huge demand in the country in spite of economic slowdown and the company plans to set up budget and service apartments at major tier II and III cities in south India, Mr Arun Kumar, Managing Director, Mir Group, said at a press meet.

The company will be shortly setting up budget houses in Kochi, Thiruvananthapuram and Kozhikode and has identified land for the purpose, he said.

He pointed out that the first phase of the townships – Green Metropolis in Kochi and The Greens in Thiruvananthapuram – has been completed on schedule and will be handed over to the owners by the first quarter next year.

Other biz

Mir Group is concentrating in various business which included consultancy and project management, tour division, logistics etc and has reached an aggregate turnover of Rs 150 crore in the last fiscal.

Focusing diverse businesses, he said the company is confident about achieving an aggregate Rs 1,000 crore by 2012. The company, he said, is also diversifying its portfolio into the sector of professional management education and formed a new subsidiary Mir Education Foundation to promote education.

The foundation will set up a series of initiatives under the MCME (Mir Centre for Management Excellence) banner.

The first MCME centre will be launched in December and initially courses will be offered in hotel management, cabin crew training and IELTS.

There were plans to offer professional courses in tourism and other management disciplines in the coming years, he added.

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