Hetero Pharma is a well-known name among pharma circles, and it has now invested a whopping Rs 350 crore for a pocket of 600 acres near Shamshabad Airport. According to newspaper reports, the deal was finalized recently.
It is known that Hyderabad has outdone other metros when it comes to realty deals both in residential, commercial, and office spaces. So, this deal is yet another addition to this bullish market. An American firm had earlier made heavy investments in Hyderabad realty. The land parcel acquired by Hetero belonged to that company. However, Hetero pulled off the deal, and CBRE Group mediated the deal. It has to be noted, though, that there has been no official announcement from Hetero.
Hetero happens to be a leading pharma company not just in Telangana but in India, and it has been investing heavily on land for quite some time. In 2017, it bought 20 acres of land in Rayadurgam at a price of Rs 475 crores. Right now, it is in the process of developing a residential project along with RMG and Raheja Groups.