subject: Vigneshwara To Invest Rs. 955 Crores [print this page] Vigneshwara Developers Pvt Ltd plans on investing Rs 955 Cr. on 3 new projects over a span of 5 years. An estimated Rs. 2000 Cr. would be spent on the project in Goa with plans of constructing industrial and residential townships, work for which has already been started.
The Managing Director of the company, Mr. Sunil Kumar Dahiya shared with Business Bhaskar that the company is coming up with four new projects; out of these Rs. 955 Cr. will be spent on three projects. A Technology park in 10 acres area under Larsen & Kisanson Eye Valley Project is going to be launched.
In the project, 18 lakh square feet area is being developed for IT firms and 60% of the work has been finished with around 400 people already investing in the same. After this I.T. Companies will be asked to lease out the remaining land and can start distribution by 2012. The project is expected to get completed by 2012 & company has planned to invest a sum of Rs.
270 Cr. in it.
Second project of the company has been launched in an area of 11 acres in Aquarius Cyber Park, Gurgaon. The project was launched recently & an estimated Rs. 360 Cr. have been invested in the same. There is an equal investment of equity & debt in this project. The project will be initiated & completed in different phases where each phase will be of 14-15 months. Company is also working on one more project in Gurgaon in Vesta Park which is expected to get completed in next 5 years & Rs. 195 will be spent on this project. Vigneshwara's biggest project till date is in Goa, where both industrial & residential projects will be launched in an area of 150 acres. To establish these projects, company has already purchased the land. The proposal for this project has been sent to Industrial Development Corporation of Goa for approval.
Company is expecting a profit of Rs. 60 to Rs. 70 Cr. which it aspires to double in next 3 years.
