GVK eyes malls, realty biz

HYDERABAD :Hyderabad-based GVK Group, which is executing the Mumbai airport modernisation, is looking at aggressive bidding in highways, ports and airport projects, investments of over Rs 600 crore in mall development, overseas acquisition of a hotel property and foraying into realty development.

The GVK Group, which is also in a major corporate restructuring mode, is planning to bring assets worth Rs 20,000 crore under the fold of its listed company, GVK Power and Infrastructure. The group has interests in infrastructure, hospitality, biosciences and particleboards.

Talking to ET, GVK Group chairman G V Krishna Reddy said, ���We will bid for any major project that comes our way in highways, airports, ports and hydel and captive power projects.��� The company is already in the race for the Rs 8,760-crore Hyderabad Metro Rail project and has expressed interest for the Rs 3,000-crore Bandra-Nariman sea-link project in Mumbai. Mr Reddy said, the group was open to the idea of acquiring hotel properties in countries such as Singapore, Bangkok, the US and the UK and may look at acquisitions in the region of $100 million.

Taj GVK Hotels, the group���s hospitality arm, has three hotel properties in Hyderabad. It is planning to set up two more properties in Hyderabad, one each in Chennai, Bangalore and Mumbai.

The group, which has a land bank of 175 acre in prime locations, is looking at realty development and may consider the option of setting up a subsidiary for the same. The group is also looking at investments worth over Rs 600 crore in mall development through GVK City.


The group is in advanced stages of completion of its first mall GVK One, spread across 7 lakh sq ft, and will be ready by the year-end. It is looking at setting up two more malls of similar size within 5 km radius of the upcoming mall in Hyderabad.