MUMBAI: Delhi-based Parsvnath Developers Ltd is planning to pump in Rs 5 billion towards real estate development in Maharashtra. The focus will be on multiplexes, housing complexes and shopping malls in Mumbai, Pune and Nagpur.
"We are planning to invest Rs 5 billion in six months. This will include multiplexes," says Parsvnath Developers chairman Pradeep Jain.
The company is in the process of setting up 40 multiplexes in the northern region. Out of this, six are already operational under the MMX brand name. "We are developing 23 shopping malls and 40 multiplexes. The investment earmarked is Rs 20 billion," says Jain.
Parsvnath Developers is engaged in 60 projects, spread over 21 cities in eight states. This is worth over Rs 80 billion, says Jain.
The plan is now to expand to Maharshtra as well. "We will be setting up shopping malls, multiplexes and housing complexes in Mumbai, Pune and Nagpur," says Jain.
