Jain Group plans to invest in realty projects

Kolkata: Jain Group of Industries, a Kolkata-based diversified company with presence is infrastructure, steel and energy sectors, plans to execute real estate projects worth Rs 3,000 crore in the coming years.

The current turnover of the company is close to Rs 800 crore, with around Rs 500 crore from the infrastructure division, according to Pradip Sen, senior vice president, Jain Group.

The funding for the project will be a mix of internal accruals, debt, private equity and project advance. The group is also in talks with a Mauritius-based private equity company for raising funds.

Some of the major upcoming projects of the company include condominium in Bangalore, which will require a funding of Rs 700 crore and an IT complex in Sector V of Salt Lake area, spread over 3 acre of land. The later will require a fund of nearly 700 crore, according to Sen.

This apart, the group has plans to execute projects in smaller towns like Siliguri, Asansol and Burdhwan. These projects would require nearly Rs 1,000 crore, said Sen.