After rolling out the first phase of Hyderabad Metro Rail Project, L&T has turned its focus on Real Estate Revenue as it expects only 55 percent revenue through the sale of tickets. The project will get revenue from real estate by leasing out commercial land and office space inside and outside Metro rail stations.
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L&T has huge shopping malls ready in Hitec City and Panjagutta with 12-screen film theatres. They are waiting for government’s nod to roll them out. Around 3,000 shops will also come up in the newly started 24 Metro stations from Nagole to Miyapur.
The concessionaire has spent nearly 20,000 crores on building the Metro and to recover its investment is through real estate as well. The state government has allotted land to L&T in prime locations of the city to construct shopping malls.
L&T has earmarked Rs 2,243 crore to construct four huge malls in Hyderabad.The Panjagutta mall has been constructed on 4.80 lakh sq ft while Hitech mall is 2 lakh sq ft. Two malls that are under construction are in Moosarambagh and Erramanzil, of four lakh sq ft each. A shopping mall spread over 15 acres with 30 lakh sq ft is coming up in Raidurg.
