Aparna Constructions invests ₹284 crore on foray into malls, cinemas
The Hindu
Aparna Constructions ventures into retail and entertainment with a new mall and cinema in Hyderabad, investing ₹284 crore.
Real estate developer Aparna Constructions and Estates is foraying into retail-commercial and entertainment segments with the launch of a mall and cinema in Hyderabad’s Nallagandla.
The move is in line with its broader business diversification goals and involves a ₹252 crore investment in Aparna Neo, the mall, and an additional ₹32 crore in Aparna Cinemas, Aparna Constructions said on Monday.
Spread across 3.67 acres with an expanse of 3.5 lakh square feet, Aparna Neo, which opens on May 31, is the only mall within an 8 km radius. With over 80 stores it deals in a range of luxury cosmetics, high-end apparel, travel necessities, technology, gourmet dining and premium quality entertainment options. The 1,200 seater Aparna Cinemas features state-of-the-art facilities, including the latest Dolby sound systems and 4K projection screens.
“Since 1990, the Aparna Group has consistently diversified its portfolio across a variety of business segments. Its foray into retail real estate and entertainment segments is another step in our growth trajectory,” Aparna Constructions and Estates Director Rakesh Reddy said. “We have plans for four new malls, each featuring Aparna Cinemas as the entertainment unit, across Telangana and Andhra Pradesh by 2027,” he said.
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