Bright Group to invest Rs 100 crore in housing, health care and education

KOLKATA: Kolkata-based Bright Group, a not for profit trust, is looking at investing Rs100 crore to set up projects across sectors of a housing, education and health at Baruipur.

They are putting up a Rs 75 crore housing city focussing on the aged community spread on 5 lakh sq ft of land to be completed in 3 years, a B.Ed college investing Rs 2 crores, pharmacy college and diagnostic centre with investments to the tune of Rs 12 crores. They are also high school and a water treatment plant at Baruipur. The trust already runs GMIT engineering college that clocks an annual turnover of ?15 crore.

Baruipur, that is close 30km on the southern fringes of Kolkata, according to Bodhisattva Banerjee, CEO and Managing Trustee, Bright Foundation is well connected by trains and roads and hence makes an ideal location for their projects. Close to 16 acres of land has already been acquired for the projects.

"We are hopeful about our projects since these sectors provide a huge scope especially in suburban Kolkata with not much world class facility and services available presently, we thought to initiate new programs to enable progress at a higher end at Baruipur, but at affordable rates," said Bodhisattva Banerjee, CEO and Managing Trustee, Bright Foundation.

Out of the Rs 100 crore investments, Rs 30 crore will be spent from internal accruals of the trust, while Rs 30 crore will be arranged from banks and the rest Rs 40 crores would be rolling funds as and when the projects progress.