AMR Infra to invest Rs 1,100 crore

He said the company will fund the investment through internal accruals and revenues coming from customers bookings.

The company is at present developing a 25-acre IT SEZ Manthan,spread over 24 lakh square feet of built-up area in Greater Noida.

“We have already constructed one tower in the project. The entire project will be completed by 2012 with a total estimated investment of Rs 600 crore,” Agarwal said,adding it is being jointly developed by group firm — R C Infosystems.

Besides one more commercial tower,the project will also have two residential towers housing 600 studio apartments.

“Manthan will have 70 per cent office space,15 per cent residential units and 15 per cent commercial area,” he added.

Agarwal said the company is expecting gross sales of about Rs 1,200 crore over the next five years.

Besides,the company is also developing a commercial complex,comprising a four-star hotel and a shopping mall,at Kundli in Haryana.

“We have tied up with Carlson group for managing the property under the Park Inn brand. We will invest Rs 150 crore n the project till the hotel is operational,” Agarwal said,adding,the 110-room hotel will be operational by early 2012.

AMR Infrastructure has also purchased five acres of land at Ujjain in Madhya Pradesh for developing a shopping mall. “We will invest Rs 150 crore for developing two lakh square feet of area by 2014. The construction of the project will start from next year,” he said.

The company has also acquired 300 acres of land at Panchpahar near Jaipur to develop a resort.

“We are talking to some resort players to tie up for management of the property,but nothing has been finalised yet,” Agarwal said.

When asked about the possible investment in the project,he said the project is likely to cost Rs 200 crore by 2014.