One of India's largest manufacturers of aluminium extrusions, Jindal Aluminium, in a latest development has decided to venture into real estate business to monetize its 360 acre land parcels ideally located on the outskirts of metropolitan cities like Bengaluru, Delhi, and Mumbai. The company is also scouting for more land to make a success of this strategic initiative, which is being led by its recently-elevated Managing Director, Pragun Jindal Khaitan. In the first phase, Jindal Aluminium is looking to form joint ventures with real estate firms to develop residential projects on its land parcels and is keen to enter the commercial real estate segment later. As a matter of fact, the player is looking at developing these land parcels in phases in the next 8-10 years, along with these planned developments, it is also looking to build capability and skill set to take this new vertical further, he added.
