SRS Group To Invest Thousand Crores

The SRS Group declared that it will be investing over thousand crore rupees in the next three years and also come out with its public issue by the end of the current financial year. It also disclosed its three upcoming projects, which are, eight hundred crore rupees five-star hotel in Haryana, an IT park and a multi-storey residential complex.

Addressing a press conference here, SRS Group Chairman Anil Jindal said that the Faridabad-based firm would invest five hundred crore rupees in the expansion of its retail business, Rs. 350 crore in setting up multiplex cinemas and Rs. 150 crore in the expansion of the food and beverage business.

Mr. Jindal said, “This investment outlay will be sourced from a mix of debt and equity, which includes an IPO by the end of current fiscal year”. Further he added that the company was building a five-star hotel at Faridabad in Haryana that would be spread in fifteen acres and include an entertainment zone. He said, “We will also be expanding our chain of multiplexes, the brand name SRS Cinemas. We currently operate five multiplexes in and around Delhi and also in Gorakhpur (U.P.) and plan to add fifty more screens by March 2009 and about 160 screens over the next three years”. Stating that the SRS Group’s focus would be on Tier-2 cities, Mr. Jindal said, “We plan to increase the number of our retail outlets under brand name ‘SRS Value Bazaar’ from thirty-five to hundred by the end of the current fiscal. We also plan to build and operate fifteen metro-based hyper markets.”

One Comment

  1. Posted July 1, 2008 at 5:26 am | Permalink

    The world is now looking at India as the nation of the future. More significantly, India is well on its way to emerging as a first-world economy in the fields of information technology (IT), biotechnology, pharmaceuticals and the automotive sector, pushing the thrust now on to the retail sector to facilitate the creation of a new surging modern India. The real estate boom in India will not only propel the economy to sustainable heights, but will also generate employment for several millions. It is strongly expected that the growing Indian economy and growing opportunities will ensure that the foundation is laid for India’s tryst with destiny and for it to be fully integrated into the world economy.For more view-

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