Mumbai-based Akruti Nirman said on Tuesday it has sought approval from the Board of Approval to set-up three special economic zones, one in Mumbai and two rest in Pune.
"These proposed SEZs will cater to IT and financial services only," company's Managing Director Vimal Shah told PTI in Mumbai.
He said the company has entered into 'agreements' with landowners for acquiring lands directly from them. He, however, did not spell out the size of the SEZs and the area where these could come up.
Akruti would collectively invest around Rs 600 crore (Rs 6 billion) to put up these SEZs. Shah, however, said that the company would dole out half of the project
cost from internal accruals, while the rest it intended to receive from equity partners, market sources said.
"We are open to having equity partners in the SEZ projects," Shah said. He said the company had applied to the BoA a couple of months back and hope to get the clearance soon.
Shah said the company was also in the process of acquiring land for setting up integrated township between Mumbai and Pune, but declined to give further details.
"We need another few more days to firm up plans," he said. Akruti Nirman recorded a net profit of Rs 57.1 crore (Rs 571 million) during the last quarter of the previous fiscal on a total income of Rs 100 crore (Rs 1 billion).
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