The Salarpuria Sattva Group has bought 10 acres of premium land in Hitec City in Hyderabad from BPTP, a Gurgaon-based builder for an undisclosed amount, a person with direct knowledge of the deal told ET.
“The deal was closed last week and Salarpuria plans to build 4 million sq ft office space,” the source said.
Bijay Agarwal MD of Salarpuria Sattva group could not be reached for comment.
In 2015, BPTP sold its 8,00,000 sq ft office building, BPTP Crest, Crest, in Gurgaon, to a joint investment platform of Bengaluru-based builder RMZ and Qatar Investment Authority for Rs 850 crore to pay institutional investors, two people close to the transaction said. BPTP got Rs 450 crore. “Salarpuria will invest more than $2 billion in Hyderabad alone with an investment of over $2 billion by 2020,” said the source, adding that Salarpuria is increasingly looking to step up investment in office space.
Read more: The Economic Times
