Vipul Ltd, a real estate developer with a market capitalization of Rs 1575 cr, has bagged an allotment of 54 acres from Maharashtra government. It will be purely an IT SEZ. An IT park would be constructed which would spread over 4.5 mn sq feet.

The construction would start from the next quarter. Vipul Ltd is looking to own the IT SEZ assets and will make rental income from it. " We are expecting a rental of Rs 30/sq ft. Every two years we would come out with a million sq ft and in the next five years we will land up with Rs 16 cr of rental per month, which will straight away add to our revenues," said Punit Beriwala, Managing Director, Vipul Ltd.

Check out Moneycontrol's exclusive video- an interview with the Managing Director of Vipul Ltd to know about the company's business plans.

By-Piyu Sen