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Vatika group plans to open 30 business centres by 2019

Each centre to cost Rs 8 crore

BS Reporter  |  Hyderabad 

Vatika Business Centre (VBC), a unit of New Delhi-based Rs 5,000-crore Vatika Group, is drawing up plans to open 30 business centres across the country by 2019, each with an investment of Rs 8 crore, said president Vineet Taing.

Inaugurating VBC's second business centre in Hyderabad, and its 12th in the country, on Wednesday, Taing said the company was evaluating all the possibilities to open similar centres in Tier-II cities like Visakhapatnam and Vijayawada in Andhra Pradesh and Warangal and Karimnagar in Telangana in one-and-a-half years from now.

"We are in the process of identifying a location to set up our third centre in Hyderabad. The centre, with a floor area of 20,000 sft and over 200 seats, will be operational in the next one year," Taing said.

VBC currently covers more than 280,000 sft of office space with 2,700 seats across Hyderabad, Bangalore, Mumbai, Pune and New Delhi with 90 per cent occupancy. The VBC centres offer fully-furnished shared offices, meeting rooms and virtual offices with video conferencing, secretarial staff, office reception and building maintenance facilities.

Stating that VBC, established in 2004, reported revenues of Rs 90 crore last year, Taing said the vision was to garner Rs 300 crore in revenues in the next four to five years.

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First Published: Wed, November 12 2014. 20:46 IST