Hyderabad: Realty firm Aparna Construction and Estates Pvt Ltd on Monday said it has entered the shopping mall and cinema business with an investment of Rs 284 crore.
In a statement, Aparna Construction & Estates announced its entry into the retail-commercial and entertainment sectors with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad.
Located in Nallagandla area, the shopping mall is spread over 3.67 acres and has a total developable area of 3.5 lakh square feet.
"In line with its broader business diversification goals, Aparna Construction has made a strategic investment of Rs 252 crore in Aparna Neo and an additional investment of Rs 32 crore in Aparna Cinemas," it said.
The company plans to develop four new malls in Telangana and Andhra Pradesh by 2027.
Aparna Construction has a current portfolio of 77 projects, of which 66 are residential properties and 11 are commercial and retail spaces in Telangana, Andhra Pradesh and Karnataka.
In a statement, Aparna Construction & Estates announced its entry into the retail-commercial and entertainment sectors with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad.
Located in Nallagandla area, the shopping mall is spread over 3.67 acres and has a total developable area of 3.5 lakh square feet.
"In line with its broader business diversification goals, Aparna Construction has made a strategic investment of Rs 252 crore in Aparna Neo and an additional investment of Rs 32 crore in Aparna Cinemas," it said.
The company plans to develop four new malls in Telangana and Andhra Pradesh by 2027.
Aparna Construction has a current portfolio of 77 projects, of which 66 are residential properties and 11 are commercial and retail spaces in Telangana, Andhra Pradesh and Karnataka.
