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M. Somasekhar
G. Naga Sridhar

Hyderabad, July 13 Maytas Properties, which has three notified IT SEZs and a host of realty projects under its belt, has set an ambitious target to develop 35-40 million sq ft area across the country in the next 3-5 years. In the three IT Special Economic Zones, around Hyderabad itself, Maytas will have 16 million sq ft area. It is starting ‘mixed-use’ (residential-cum-commercial) projects in Chennai and Nagpur, where it has own land. In addition, it would take up ‘third party’ projects in Bangalore and Coimbatore this year, according to Mr K. Thiagarajan, Chief Executive Officer.

The Hyderabad-based company, floated by the promoters of Satyam Computers, will raise the necessary funds for the growth plan through a combination of own resources, and debt from financial institutions and banks.

“The capital requirements are sufficient as of now and we have some active debt lines. We are also open to taking on board a strategic investor, if we find the right one,” the CEO told Business Line.

The company floated in January 2005 is among the fastest growing in the property development and commercial infrastructure segments. In Hyderabad, the company will soon launch a high-rise residential complex in Gopanapalle, close to the hitech city, over 35 acre area.

With an investment of over Rs 1,000 crore so far in various projects, Maytas will start delivery of its luxury villas in its prestigious project ‘Maytas Hill County’, an integrated township coming up over 85 acres in Hyderabad over the next nine months.

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