The Telangana excise department called for tenders for liquor outlets for the years 2023-25. There was a whole lot of competition for the same.
Now, the excise department has identified that a real estate company based in Andhra Pradesh has spent over Rs 100 crores in this lucky draw system in order to acquire the liquor license.
It is understood that this unnamed AP based company which operates in permanent assets management has now set food in the Telangana liquor landscape and their mega investment of 100 crores suggests the same.
The company has acquired 110 liquor license deals through the lucky draw lottery system.
The company has also been strategic about the same as they’ve targeted the areas outside of Hyderabad. They’ve targeted areas like Shamshabad, Saroornagar, and other outskirts.
The fact that a company based in AP has invested so heavily in Telangana liquor landscape, leaving their own AP state has become a hot topic. Either way, Telangana is the beneficiary here.
