 Online edition of India's National Newspaper Wednesday, Jun 25, 2008 ePaper | Mobile/PDA Version |
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INVESTMENT PLANS: Anil Jindal, Chairman, SRS Group, addressing a press conference in New Delhi on Tuesday. NEW DELHI: The SRS Group, having interests in real estate, retail and entertainment sectors, on Tuesday said it will be investing over Rs. 1,000 crore in the next three years and also come out with its public issue by the end of the current fiscal. It also unveiled its three upcoming projects — a Rs. 800-crore five-star hotel in Haryana, an information technology (IT) park and a multi-storey residential complex. Addressing a press conference here, SRS Group Chairman Anil Jindal said the Faridabad-based firm would invest Rs. 500 crore 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. “This investment outlay will be sourced from a mix of debt and equity, which includes an initial public offering (IPO) by the end of 2008-09,” said Mr. Jindal and added that the company was building a five-star hotel at Faridabad in Haryana that would be spread in 15 acres and include an entertainment zone. “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 50 more screens by March 2009 and about 160 screens over the next three years,” he said. 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 35 to 100 by the end of the current fiscal. We also plan to build and operate 15 metro-based hyper markets.”
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