Zuri Group Global is planning to invest about twelve hundred crore rupees for setting up five-star business hotels and luxury residential properties over the coming three years.
The investments would have a debt-equity ratio of 70:30. The company was open to raising funds through the private equity and IPO routes.
The Bangalore-headquartered company plans to open three to four hotels of 150-175 rooms each in Pune, Ahmedabad, Kolkata, Nagpur, Delhi (NCR) and Mysore entailing investment of Rs 800 crore over next three years.
Zuri was also planning to start constructing this year its luxury villas and apartments in Goa, which would entail an investment of Rs 400 crore including land cost. Zuri had acquired 300 acres for the project. The approvals for the project are in place and the villas are expected to be ready in 18 months from zero date.
