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Jayanta Roy, MD, Peerless General Finance and Investment, and (right) Partha Sarathi Bhattacharyya, Chairman, Peerless group, at a media briefing in Kolkata | Photo Credit: DEBASISH BHADURI
Peerless Group plans to invest around ₹1,000 crore in its healthcare and mixed-use real estate projects in the next three years.
The Kolkata-based group is developing a 160-bed cancer-care facility, SK Roy Institute of Oncology Services (SRIOS), at an investment of around ₹500 crore.
“We are planning to launch this facility in 2026. We are also open to acquisitions in the healthcare space,” Peerless chairman Partha Sarathi Bhattacharyya told mediapersons in Kolkata, on Wednesday, after the 91st annual general meeting of the group’s flagship company, Peerless General Finance and Investment (PGFI).
The group is developing a mixed-use real estate project, Trayam, in Kolkata, featuring retail, commercial and residential complexes.
“Total investment in the project will be around ₹500 crore. The project will be launched this year… (and) completed in the next four years,” Bhattacharyya added.
PGFI Director Spriya Sinha said the group plans to invest around ₹1,000 crore for the healthcare and mixed-use real estate projects in the next three years.
Jayanta Roy, Managing Director, said the group is focusing more on its ‘consumer facing’ businesses for future growth. “We have closed down our retail loan business, which constituted around 1 per cent of the group profit… as PGFI received the licence of an NBFC-investment and credit company (NBFC-ICC). Now the group is turning to much more dynamism,” Roy added.
The group’s turnover stood at around ₹961 crore in the last financial year.
Published on August 1, 2024
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