Gayatri Projects is all set to acquire five smaller infrastructure firms in the country, paving way for its inorganic expansion. The company plans to fund these acquisitions through divestment of 49% equity in favour of Australian multi billion-dollar wealth management firm AMP. The latter will bring to the table Rs 200 crore through FDI for the planned expansion of Gayatri Infra Ventures, a subsidiary of Hyderabad-based developer Gayatri Projects.



Courtesy ET Realty 06-06-08

Zoom Developers have bagged three sites of IRCTC Rail Ratna Budget Hotel project. The three sites — Raipur, Bilaspur and Guhawati hotels — will have budget hotels of 75, 80, and 150 rooms, respectively. "These budget hotels will cater to the growing demand of railway travellers and of the increased demand of tourist and business travellers visiting the cities/ country," said Rameet Trehan, head, business development, Zoom Developers. Last year, in the first batch of the 20 Rail Ratna Hotels, Zoom Developers in consortium with the Royal Orchid Hotels, had won bids for 11 sites and out of the second batch of 10 sites, the first, Bhubhaneshwar whose bid was opened in July 2007 was won by Zoom Developers in consortium with the Toshali Sands Group. With this the total tally of Zoom Developers comes to 15 hotel sites.

Courtesy ET 07-06-