Rajesh Exports Ltd, a gem
and jewellery manufacturer
and exporter based
in Bengaluru, is entering
infrastructure sector with plans to
invest around Rs 35,000 crore in
an integrated township consisting
of 60,000 affordable homes for the
middle class. The investment will
be spread over five years.
The township project will be
spread across 1,200 acres and
will be developed in six phases
covering 200 acres each.
The entire project, expected to
be completed by December 2013,
will be spread over six corridors—
Devanahalli, junction of Krishnaraja
Puram and Whitefield,
Bidadi-Mysore Road, Kanakapura
Road, Bannerghatta Road and
Tumkur road.
Prasanna Kumar Sripada., CEO
& Director, Rajesh Exports Ltd,
said that phase-I of the project
would be executed in Devanahalli
on the outskirts of the city. Karnataka
Industrial Area Development
Board has notified land for
this project. This phase entails an
investment of Rs 6,500 crore with
a debt-equity ratio of 30:70.
Construction work at the site is
expected to begin in August this
year. Work on phase-II will be
taken up only after the completion
of phase-I.
The township will have office
and commercial complexes, shopping
malls, hospitals, schools,
multiplexes and other facilities.
The company had signed the
project MoU with the state industries
department at the Global
Investors Meet held in Bengaluru
early June.
Rajesh Exports Ltd also plans to
invest Rs 500 crore on a gem and
jewellery SEZ near Devanahalli.
This SEZ will have a provision
for 30 units including exhibition
ground, training centre and
quality control labs.