Hiranandani group plans global foray

Expansion in Singapore, Dubai on cards

The Rs 500 crore Hiranandani group, which is engaged in real estate development and construction, is planning to spread wings abroad.

On cards are immediate plans to undertake residential and commercial project development in Singapore and Dubai.

The group is also exploring business opportunities in other countries.

Niranjan Hiranandani, managing director, Hiranandani group, said, "Though there is a huge growth potential in big cities in India like Mumbai, the infrastructure is growing week in these cities. We have conducted a feasibility study on business opportunities in several countries and have decided to start business in Dubai and Singapore at the initial stage."

According to Hiranandani, the group is growing at a compounded annual growth rate of 15 per cent.

Besides construction, the group has also forayed into businesses like entertainment, hospitality, retail, infotech, education, horticulture and healthcare.

The major construction projects of the group in Mumbai include Hiranandani Gardens at Powai, a township called Hiranandani Estate at Thane and the upcoming Hiranandani Meadows at Thane.

The group is known for developing mix-user townships to meet both residential and commercial needs.

The Hiranandani Business Park at Hiranandani Gardens, Powai, for instance has become a hub with more than 85 corporate offices.