Akshaya homes to enter new markets

Written by Agencies | Chennai, August 31: | Updated: Aug 31 2007, 22:44pm hrs
Real estate developers Akshaya Homes is looking to expand its business in the South Indian cities of Bangalore, Hyderabad, Coimbatore, Madurai and Tiruchirapalli in the current fiscal.

As part of its expansion plans, company would build up a 'land bank' in these cities and was in the process of acquiring land, Akshaya Homes' Managing Director Chitty Babu said.

The Chennai-based realty firm would also come up with Special Economic Zones at Coimbatore, Madurai and Tiruchirapalli dedicated to IT and IT enabled services, he said.

The company is aiming to clock a turnover of Rs 350 crore in the current fiscal, the same being Rs 100 crore in the previous financial year.

The headcount would be doubled from the present 60 to 120, he said.

The company would also invest Rs 25 crore for infrastructure and manpower development as also techonology upgradation, he added.