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.
Image Credit : imgcdn.raagalahari.com