Aparna Construction invests Rs 284 cr to enter into shopping mall, cinema businesses

Hyderabad: Realty firm Aparna Constructions and Estates Pvt Ltd on Monday said it has entered into shopping mall and cinema businesses with an investment of Rs 284 crore.

In a statement, Aparna Constructions and Estates announced its foray into the retail-commercial and entertainment segments with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad.

Located in Nallagandla region, the shopping mall is spread across 3.67 acres with a total developable area of 3.5 lakh square feet.

“Aligned with their broader business diversification goals, Aparna Constructions has made a strategic investment of Rs 252 crore in Aparna Neo and an additional investment of Rs 32 crore in Aparna Cinemas,” it added.

The company has plans to develop four new malls, across Telangana and Andhra Pradesh, by 2027.

Aparna Constructions has a current portfolio of 77 projects, of which 66 are residential properties and 11 are commercial and retail spaces across Telangana, Andhra Pradesh and Karnataka.