Uppal Housing to Invest Rs 1,500 Cr in Hotel properties

October 26, 2007	(1 votes, average: 4 out of 5)  Loading ...
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Delhi based Uppal Housing Private Limited will invest a whopping Rs 1500 crore to develop hotel properties in India over the next 2-3 years.

The Group is planning to set up five star hotels in Pune, Hyderabad, Bangalore, Goa, and Chennai and has two five-star hotel properties under development in Gurgaon and Chandigarh.

The Group may tie up with prominent names in the hospitality sector to manage new properties. It will raise capital through debt, internal accruals and by raising funds from private equity players. If required, the company may garner funds through the IPO route.

Uppal will soon develop an exclusive mall to be christened as Centra Mall and luxury apartments called Uppal’s Marble Arch in Chandigarh. These projects will involve the investments of Rs 100 crore and Rs 250 crore respectively.

News Published Under:   Hotel Industry in India |

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