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Aparna Constructions & Estates Foray Into Retail And Entertainment, Invests Rs 284cr

Hyderabad, May 27, 2024: Aparna Constructions and Estates Private Limited on Monday announced its foray into the retail-commercial and the entertainment segments with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad. Located in the Nallagandla region, Aparna Neo is spread across 3.67 acres with an expanse of 3.5 Lakh square feet. Aparna Constructions has made a strategic investment of Rs 252 cr in Aparna Neo and an additional investment of Rs 32 cr in Aparna Cinemas.

Aparna Neo Mall will have retail offerings and Aparna Cinemas, a 1200+ seater cinema.

Speaking about the launch and the company’s business plans for the year, Mr. Rakesh Reddy, Director, Aparna Constructions and Estates said, “Since 1990, the Aparna Group has consistently diversified its portfolio across a variety of business segments. Aparna Constructions’ foray into the retail real estate and entertainment segments is another monumental step in our growth trajectory. Aparna Neo not only marks the milestone of our first mall launch, but also echoes our in-depth understanding of the market dynamics in the region. Hyderabad is poised to emerge as the 4th fastest growing city, driven by a booming IT/GCC sector that is attracting a significant influx of new residents. This rapid urbanization is fueling growing demand across the residential, commercial, and retail real estate categories. We want to be well positioned to cater to consumer aspirations.”

“We also have plans for 4 new malls, each featuring Aparna Cinemas as the entertainment unit across Telangana and Andhra Pradesh, by 2027. Meanwhile, our flagship residential real estate and commercial portfolio continues to grow by 20% and 10% respectively, y-o-y. We are committed to exploring new opportunities and delivering value to our stakeholders, cementing our position as a real estate trailblazer”, added Reddy.