Incredible India Projects Pvt Ltd (IIPPL) has acquired Hotel Hampshire Plaza for ₹42 crore
The acquisition marked the entry of the 10-year-old IIPPL into the hospitality sector.
“We will continue to diversify into hospitality, manufacturing and education verticals with about ₹2,000 crore investment over the next 10 years,'' founder-director and chief operating officer Praveen Kumar Nedugandi, said.
IIPPL, which started its operations in 2008 with a capital of over ₹2 crore, now has a networth of ₹500 crore and recorded a turnover of ₹156 crore in the last financial year.
IIPPL is looking at 20 hospitality properties in the southern, western and north eastern markets going forward and is in talks to buy a hotel in Goa.