Lulu Group gifts 350Cr to L&T Tech Park
It has been a year so far with plenty of progress and amazing growth that has impressed one and all, especially at the climes found with IT and Infopark. This needed to be leveraged on a grand scale, which is why the well-known and very esteemed “Lulu group” now has made a commitment to invest further with L&T park, a grand investment of INR 350Cr.
The grand INR 350cr investment now would help with further accentuation and development of the well known L&T Park, says a source, for which the team has already got INR 150Cr in hand to begin the process.
Sources say, Infopark now is the hub of investments and a destination for investors alike. MA Yusuf Ali, the owner of The Lulu Group and a well known NRI honcho and businessman respectively is the man behind it all, and has acquisitions of the famous L&T Park at the talked about Infopark Campus, says a source.
There is also a name change talk doing the rounds within the Lulu group team, and most say it could be a name change for the better. It is opined and assumed that L&T Park now would after the acquisitions be known to the world as Lulu Tech Park Ltd. with approvals from the ROC obviously.
The INR 350cr is all set to change the face of L&T park, adding to it another 9lakh sq.ft of IT space, and by October 2015 it would be thrown open to one and all, post all clearances being given.
Source – The Hindu Business Line
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