Housing Development and Infrastructure Limited plans 70 acres HDIL CYBERCITY at Kalamassery, Kochi

HDIL CYBERCITY will be Kerala's FIRST INTEGRATED IT Township, having, besides IT/ITES, Residential apartments, Villas, Schools, Shopping Malls, Multiplex, club house, service apartments and a Star Hotel.

The Foundation Stone laying ceremony will be performed by Mr. V. S. Achutanandan, the Hon'ble Chief Minister of Kerala on 19th January, 2008. HDIL has planned to invest Rs.4000 Crores in this project over a period of 48 months (4 years).

"By constructing HDIL CYBERCITY at Kalamassery in Kochi, we propose, not only to create a world class IT Hub in Kerala, but also to provide 60,000 direct and 1,50,000 indirect jobs at Kochi. This is our small and humble gift to the people and the State of Kerala" said Mr. Rakesh Kumar Wadhawan, Chairman, Housing Development and Infrastructure Ltd.

HDIL CYBERCITY which has a built up area of 80 lakh sq. ft. in Kalamassery, Kochi, is the first flagship IT project of the company in Kochi. It is also the first and the only integrated IT Township in Kerala.

This mega-city of 70 acres area has been developed into various zones of Residential, IT, Commercial, Hotel, Social, and Infrastructure amenities according to their internal relationships to each other and keeping in mind the natural flow of spaces.

Besides providing 60,000 direct and 1,50,000 indirect jobs to the people of Kochi, the project will also generate over Rs.425 Crores of Revenue for the Government of Kerala by way of Stamp and Registration duty and Employee Welfare and Village Tax.

Kochi has been ranked as the second most favoured IT & ITES destination by NASSCOM and is a bustling industrial centre with industries ranging from ship building to handicrafts and petro-chemical, refining to spice trading.

Some of the top IT companies across India have plans to set up campus in Kochi in next 3-5 years. NASSCOM has projected about 5 lakh IT/ITES job opportunities in Kerala.

About HDIL:

Housing Development and Infrastructure Ltd. (HDIL) was promoted by late Shri Rajesh Kumar Wadhawan, who was the Chairman & Managing Director of Dewan Housing Finance Limited (DHFL).

HDIL is a listed and one of the largest Real Estate development companies in India. It is the flagship construction and Real Estate Development company of Wadhawan Group.

HDIL has a market capitalization of over Rs.25,000 crores with its significant presence in Mumbai Metropolitan Region, Palghar, Pune, Hyderabad & Kochi.

The company has over three decades of experience in the Real Estate business and has developed over 73 million sq. ft. area. The company, as on 30th September, 2007, has a total land reserve of 125 million sq. ft.

HDIL has 26 completed projects of 19.29 million sq. ft. of Saleable area and 3 million sq. ft. of Slum Rehabilitation Authority (SRA) constructed area.

HDIL recorded a turnover of Rs.927.5 crores and Net Profit of Rs.432 crores for the half year ended 30th September, 2008.

Press Release: Business Wire India

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