Lanco Diversifies Real Estate Portfolio

Lanco Kondapalli Power will execute two road projects in Karnataka on the Build-Operate-Transfer basis for the National Highways Development Project at a cost of Rs.1006 crore.

Lanco KP has floated two Special Purpose Vehicles for the project: Lanco
Hoskote Highways will construct the 81 km long distance between Bangalore-Hoskote
and Mudbagal on NH 4, while Lanco Devihalli Highways will undertake the road
construction on 82 kms of the Neelamangala-Devihalli distance, besides broadening
a 16 km portion into a 6 lane one.

The projects would be completed in 2 and
a half years.
Lanco Infratech, the parent company, has embarked on a couple of projects
of considerable size in Hyderabad and Bangalore.

The Rs.5, 500 crore Lanco
Hills is one of the largest township projects in Hyderabad expected to
cover 30 million sq. ft. The project includes an IT SEZ, a non-IT SEZ,
shopping malls, hotels, service apartments and the construction of a residential
tower which will vie for ranking amongst the tallest buildings in the
world.

The company is expecting a similar response for its Ocean Park project
likely to commence in 2007-08
Lanco has been performing steadily on the stock exchange, appreciating
by 53% in June, ever since it was listed in June 2006.

Meanwhile, realty circles are expecting Mumbai-based builder Hiranandani
to debut into infrastructure with airport development. The Group is already
engaged in a SEZ project in Chennai and hopes to take up more urban development
projects

Photo: Luxury apartments in Sopot (aka Invest but where is the Comfort^) by t.przechlewski, licensed under CC BY 3.0, via Wikimedia Commons.