Tulip Infratech enters the infrastructure and construction sector
Tulip Infratech, a distinguished real estate company in India, is all set to enter country’s promising infrastructure and construction sector.
Talking about the growth plans, Parveen Jain, Chairman & Managing Director, Tulip Infratech, said that Tulip enjoyed an enviable reputation for realty excellence of being in operation since 2005. With the government’s focus on infrastructure building and rising private investment, they are planning to diversify into newer business ventures, including infrastructure and construction.
This year, the government has proposed to spend some Rs 3.96 lakh crore ($59 billion) on infrastructure, including housing, railways, ports, and irrigation. India has a huge shortage of infrastructure and the government envisages an investment of over Rs 43 lakh crore ($646 billion) over the next five years. Of this, 70% will be needed in the power, roads, and urban infrastructure sectors.
Currently, Tulip Infratech has nine operational projects in Gurugram including Tulip Orange, Tulip Violet, Tulip Ivory, Tulip Lemon, Tulip White, Tulip Purple and few coming up in Dharuhera and Sonipat. The group has devoted around 10 million sq ft area in group housing and 1 million sq ft in commercial projects. Further, the company plans to develop around 2.5 million sq ft as group housing and 1.5 million sq ft of the commercial project in NCR and Haryana. There are more than 4,800 condominiums in these group housing projects.