Indore to get 8000 Crore by DLF alone, must be Joking

Real estate major DLF, which has renewed plans to tap the capital market with a mega IPO, is contemplating investing up to Rs 12,000 crore to develop various projects in Madhya Pradesh.

DLF has submitted a bid to the state government for developing an industrial SEZ, which would incorporate plastic, chemical, automotive and IT companies, spread over 2,500 acre near Indore. The company also plans to develop a huge township close to the SEZ to house people working in the zone.

"We are planning to invest up to Rs 8,000 crore in the SEZ and township near Indore," company sources told PTI.

The company is quite confident that the government would award the contract to it for developing the SEZ.

DLF would go ahead with the township project irrespective of the outcome of the SEZ bid, as it possesses adequate land for the same, sources said.

Besides, the company plans to invest further up to Rs 3,000 crore in Bhopal to develop four projects that includes a small township covering 30 acre, hotel, a residential project and a shopping mall.

DLF would also develop luxury apartments and villas at Indore spread over 250 acre at an investment of Rs 1,000 crore.

The company is looking at pumping in huge investments in other parts of Madhya Pradesh too, including Gwalior and Jabalpur.

From
http://economictimes.indiatimes.com/articleshow/234505.cms