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Mana Projects to invest Rs 250 crore over next five years to acquire land, to foray into Hyderabad

The company expects to generate a revenue of about Rs 3,700 crore from the sale of commercial and residential projects

Mana Projects' Managing Director Kishore Reddy.

Mana Projects' Managing Director Kishore Reddy.

Bengaluru-based real estate group Mana Projects is getting ready to invest Rs 250 crore for the acquisition of 50 acres of land in the next five years. The company also plans to launch its first commercial office in Hyderabad in August this year for which land acquisition is currently on.

"We have so far delivered or taken up for development four million square feet of residential apartments in Bengaluru, and with the present land acquisition in the city, the estimated construction is likely to be an additional 4.5 million square feet across Bengaluru," Kishore Reddy, Managing Director of Mana Projects told Moneycontrol.

Over the next five years, the company expects to generate a revenue of about Rs 3,700 crore from the sale of commercial and residential villas and flats in Bengaluru and Hyderabad.

Mana has completed over 26 projects at Sarjapura in the southeast part of the city. Reddy said the company has been focusing on the IT-dominated Sarjupara area. "We are currently moving to Whitefield in the eastern periphery, another major IT hub in Bengaluru," he said.