Sreemitra Developers gets Crisil rating

Sreemitra Developers (P) Limited, a real estate company which got DA 3 rating from Crisil recently, has undertaken various projects involving an investment of Rs 15 crore.

The proposed projects include construction of a five star resort, 'Darling Cave', on the Karimnagar highway, development of a residential complex, 'Phoenix Port, near Shamshabad, and a 100-house gated complex at Vanasthalipuram in the city outskirts, according to the company's executive director, Y Kiron.

Kiron told newspersons here on Monday that Darling Cave resort, being built at a cost of Rs 5 crore, was expected to be operational by September next year.

The company had also entered into an agreement for operation of another resort in the vicinity of Hitec City, which would be operational by the end of this year.

He said that Sreemitra turnover was expected to be Rs 42 crore in the current fiscal as against Rs 20 crore last year.