Incredible India Projects steps into hospitality sector

Incredible India Projects Pvt Ltd (IIPPL) has acquired Hotel Hampshire Plaza here for Rs 42 crore.

Speaking to reporters, the residential and commercial projects developer’s founder-director and chief operating officer Praveen Kumar Nedugandi said the acquisition marked the entry of the 10-year-old IIPPL into the hospitality sector.

“We will continue to diversify into hospitality, manufacturing and education verticals with about ₹2,000 crore investment over the next 10 years,” he said further.

IIPPL, which commenced its operations in 2008 with a capital of over Rs 2 crore, now has a networth of Rs 500 crore and recorded a turnover of Rs 156 crore in the last financial year.

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