Comments
Tata Reality and Infrastructure Ltd (Tril) is entering hospitality, senior living and retail space development.
The subsidiary of Tata Sons, which will focus on retail space development, has floated a separate entity — Tril Hospitality Services — for developing hospitality and senior living projects. Mr C. Velan, Executive Director & CEO, TRIL Infopark Ltd, said the company plans to develop senior living spaces in the periphery of Chennai, Bangalore and Hyderabad to start with. “It's more likely to be in Chennai, first,” he said. Though the company has not identified land, according to him, the first project may start before the end of the current financial year.
The company will also develop properties for “mid-priced” hotels to be managed by the Taj Group. Mr Velan said the apartments for senior citizens will be owned and managed by the company. “We will lease them out to people with assurance of complete maintenance, including necessary medical care.”
The company is developing a 7-lakh-sq.ft. mall in Amritsar, “70 per cent of which has already been leased out,” he said. The property will be operational by September this year. Besides, it is developing two office-cum-retail projects in Bangalore and one in Gurgaon. Overall, the company has projects on hand worth Rs 10,000 crore, said Mr Velan.
It will participate in infrastructure projects and to bid for Navi Mumbai green field airport project and road projects, he said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.