Om Metals, Mahindra to develop realty project

The co expects revenue of Rs 75 cr as its share against investment of Rs 20 cr on 10 acre land

Om Metals Developers (OMDPL), a subsidiary of Om Metals Infraprojects, has entered into a joint development agreement with Mahindra Lifespaces, the realty arm of Mahindra Group, and launched a premium residential project in Kukatpally, Hyderabad.

Located on the road connecting HITEC City to NH 9, the project Ashvita is spread over 10 acres. Mahindra will develop and own 80 development rights while 20 per cent righs are owned by Om Metals Developers.

OMDPL expects revenue of Rs 75 crore as its share against an investment of Rs 20 crore on 10 acre land.