Pharmaceutical companies now venturing into the real estate sector

By Pallavii Pitale

With  Textile companies venturing into the real estate, pharmaceutical companies too have joined the bandwagon.

Country’s well known pharmaceutical company Alembic Ltd. has entered into the real estate sector with it’s newly launched company Alchemy Real Estate that shall be headed by CEO, Mr.Udit Amin. The pharmaceutical giant intents to develop various commercial and residential properties in the city of Vadodara  where it holds about 100 plus acres of land and plans to develop around 50 acres land for the purpose of real estate.

Company’s first upcoming residential project is located near Alembic Cricket Ground in Vadodara. Spread on six acres land, the residential project Shangri-La will consist of 11 towers of nine floors and house 396 apartments of two, three and four bedroom flats.