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Andhra Pradesh
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Hyderabad
‘Ambica Athisaya’ launched in market
Special Correspondent
HYDERABAD: Ambica Darbar Bathi, a Rs. 70-crore incense sticks manufacturer based in Eluru of West Godavari district, on Monday launched a new product, ‘Ambica Athisaya’, a fragrant ‘sambrani’ (Benjamin Gum) smoke.
The company introduced a small charcoal briquette which becomes red hot on lighting up.
It burns for about half-an-hour and a tablet of ‘sambrani’ can be put in it to generate the smoke.
Diversification
Addressing a press conference here, chairman of the company ‘Ambica’ Krishna said the company, which had forayed into real estate on a small scale in Visakhapatnam, Vijayawada and Vizianagaram, had partnered with promoters of ‘Aditya Trade Centre’ and floated a special purpose vehicle (SPV) called ‘Ambica-Chennakesava’ to build apartments for the Central Government.
Mr. Krishna said that the SPV would be investing Rs. 450 crore in the project to build apartments spread over five lakh sq. feet in Bhubaneswar, Hyderabad and Visakhapatnam.
The complexes would be handed over to Central Government.
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