MBD group eyeing new real estate projects

Punjab-based Malhotra Book Depot (MBD) which has become popular for text books in the state and elsewhere, plans to increase its presence in the real estate sector at the national level after exploring new fields in publishing.

The Rs 250-crore MBD group, which launched its first mixed land developments in Punjab last week, has lined up a few more projects in Punjab, Karnataka and Andhra Pradesh.

The company had begun its foray into the hospitality sector seven years ago when it entered into a franchise agreement with Radisson Hotels & Resorts, a group company of Carlson Hotels Worldwide to open their first maiden venture, The Radisson MBD Hotel, Noida (Delhi NCR). The hotel is being managed by the group as the company has laid ambitious plans to make a mark in the hospitality sector.

“We are not an investor group. We are very much serious over building a mark in the hospitality sector and managing the properties reflect our commitment towards the business. In the next five years the company has plans to be counted in the hospitality arena,” said MBD Group Director Sonica Malhotra.

The group is coming up with their second Radisson hotel at Ludhiana, expected to start by the middle of next year.

Apart from this the company is building a hotel property in Jalandhar. MBD Krishna resort spread over an area of 9 acres would house a total of 148 rooms along with an Indian, Italian and Chinese specialty restaurant. Situated within the surroundings of green foliage and landscaped Garden would be a sprawling spa and a state-of-the-art fitness centre.