Siddha group lines up Rs 8,000-mn worth projects

Kolkata: Kolkata-based Siddha group will take projects worth Rs 800 crore in the next three to four years for real estate projects in the city.

It has also joined hands with the West Bengal government for floating a joint venture company to take up infrastructure projects, which includes development of a 35,000 square feet commercial space in Kasba, with a project cost of Rs 20 crore.

Speaking after a press conference on the launch of a studio apartment, Xanadu, Sanjay Jain, joint managing director, of the company said, the real estate company was executing two projects—Xanadu and Siddha Pine in the city, and two other projects were in the pipeline.

The upcoming projects of the company include a service-cum-shopping and residential project in Rajarhat and another residential project-cum IT project spread over 40 acre in Rajarhat, with about 1,000 flats.

Apart from Kolkata, Siddha is also executing township projects in collaboration with the Rajasthan government.

The company hopes to complete all its upcoming projects in Kolkata by 2011.

Last year, the turnover of the privately-held company was Rs 50 crore. In the next two- hree years, the company aimed to achieve a turnover of Rs 800 crore, said Jain.