Gitanjali Group of manufacturing diamond jewellery has entered the realty industry whereby it plans to rake in around Rs. 525 crore worth of revenue from the two projects it has recently signed, over a period of two-and- a-half years.

Topping their plan of action is a commercial project in Andheri East and a residential one in Borivali. Around Rs. 125 crore is expected to come in from the Andheri project, and an additional Rs. 400 crore from the residential one in Borivali.

However, the revenues are expected to come around only after the first 24 to 30 months since some time is needed to develop the properties.

The investment in this business has so far hit Rs. 100 crore.

Apart from the realty business, the group had also planned to set up 7 SEZs, and the first one has already been set up at Hyderabad. It is called Hyderabad Gems SEZ Ltd. The other SEZs are expected to be set up soon, with work on the second SEZ in Panvel almost started.