Emami to float arm for real estate business

FMCG company Emami has decided to float a wholly-owned subsidiary to make a foray into the real estate sector. A company official said that Emami had identified realty as a major opportunity which would also help in mitigating the risks of the FMCG business. Sources said that with liquidity in excess of Rs 100 crore, the company was well poised to enter the sector. The subsidiary would be formed by the end of March or April, the official, said adding it would take up select projects where the returns were high and quick.

Courtesy: EconomicTimes
For more detail on Retail India visit: http://www.retailindia.tv