Balwa Group, with businesses spread across hotels, real estate, engineering and food processing sectors, is set to invest over Rs 800 crore to further expand the hospitality business in India and overseas. In a chat with DNA Money, Umar Balwa, director – global operations, Balwa Group, said that hotels form a major part of the group's business. The new hotels in Mumbai will call for an investment of Rs 300 crore each – total Rs 600 crore including land cost. The two hotels in Houston are likely to call for a capital expenditure of anything between Rs 200 crore and Rs 300 crore. The group has so far invested close to Rs 800 crore in the hotels business that has two operational hotels in Mumbai and four hotels in the US.

Source: dna October 02, 2017 01:52 UTC