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Som Distelleries steps in MP Realty

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As per the source saying at the www.propertykhazana.com Som Distilleries and Breweries, Bhopal based manufacturer of Hunter Beer, purchased 50 acres plot in Gwalior for Rs. 266 Crores from MP Govt. to develop a retail mall, theme mall, and two hotels – Star Hotel and Budget Hotel and as well housing flats. Venture known as Thatipur Gandhi Road Project is a JV of 60:40 with Patel Engineering and marks the brewing company’s raided into the real estate trade. Sompel is the company in charge for the venture which is promoted by Som Distilleries.
JR Arora, Chairman and MD of Som Distilleries said to the www.propertykhazana.com that, “Venture is awaiting cost of Rs. 2,500 Crores in three years and this venture will perk up the intensification of the company.” Venture is the part of the State Govt. housing scheme for its workers, in which the builder has to put up an assured number of residences.
The bid approached as penetrate for Som Distilleries, which is gazing for the prospect to get bigger from the brewing and distilling business. Rs. 200 Crores Company has launched the model of burly beer in India and has proposals to project into the South Indian beer market.
Mr. Arora said to www.propertykhazana.com that, “The project cost will be abstracted from the amount to be paid to the Govt. on account of 90 years lease period. This venture will cost about Rs. 100 Crores and will be financed through internal accrual, financing from customers, institutional borrowings and so on.”
Even if manages 12% of the country’s best beer market, the supply is limited to North Indian Market presently. Already company is purposing to access brewing amenities through bottling agreements, purchasing and Greenfield ventures in Southern Markets.
Source: NBTVLIVE

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