Aurobindo Realty bets on Hyderabad real estate

The promoters of India’s second largest pharma company, AurobindoPharma Ltd, are taking a realty check with nearly 14 million sqft of commercial, retail, residential and hospitality projects in the pipeline. They have planned an investment of around Rs 3,000 crore over the next three to five years through their real estate venture, Aurobindo Realty & Infrastructure Pvt Ltd. The realty company has on board AurobindoPharma founder PV Ramprasad Reddy’s kin PenakaSuneela Rani and son Rohit Reddy Penaka (as per data gleaned from the ministry of corporate affairs website). It has already made a quiet debut in the real estate market with three commercial projects coming up in the vicinity of the IKEA store in the IT hub of Madhapur.