South City Projects (Kolkata) Ltd, a consortium of six companies, is examining a proposal to renovate old buildings in London.
RK Agarwal, Advisor, Emami Infrastructure, told BusinessLine the consortium has received two such proposals from London. “It is still early to say much,” he said while confirming the proposal is under consideration.
South City is also looking to develop residential projects in Dubai.
The consortium’s maiden overseas venture is a project in Sri Lanka, which is slated to to be handed over in 2019. “Close to 60 per cent of the sales is complete,” said Agarwal.
Agarwal was here to introduce Emami Infrastructure’s foray into Coimbatore with the launch of Emami Aerocity. The project site at Kalapatti is spread over 62 acres and contains 929 DTCP-approved plots. It is being developed jointly by Emami Infrastructure and city-based Somus Realty Pvt Ltd.
Emami has invested ₹150-160 crore in the project, he said.
Besides Coimbatore, the company owns 10,000 acres in Madurai and 1,200 acres in Jhansi, he added.