Malabar's Rs 10,000 crore realty plan

Kerala-based Malabar Group, which is a leader in gold business with Malabar Gold & Diamonds, is entering the realty business with Rs 10,000 crore worth commercial and residential projects, including townships, to be developed over the next three years.

The group, through its realty arm Malabar Developers, will raise funds from investors, including the NRIs and banks to develop commercial and residential properties across the South in the first phase and then into the Northern and Western markets over the next five years.

Malabar Group chairman MP Ahammed said that debt will not be too high as the company already has over 1,000 investors and the debt-equity ratio will not be more than 1:1.

Malabar Developers currently has a land bank of 200 acres spread in three states — Kerala, Tamil Nadu and Karnataka — with over two million sqft of ongoing projects and more than 16 million sqft of upcoming projects.

It already has a 30-acre plot in Mangalore and are scouting for joint ve-nture partners in Mys-ore, Bengaluru and Hyd-erabad. The next phase will have the company spreading out to Maha-rashtra, AP and Tela-ngana, he said.