Leela Infopark, which was owned by Leela Lace Holding Pvt Ltd is moving into hands of a Mumbai based Carnival Group by investing around INR 280 Cr for a complete buy out. Once the Leela Infopark was a property of the Leela Lace Holding Pvt Ltd, an IT based firm, in Kakkanad, Kochi, earns around Rs 30 crore annually through lease rentals from 53 tenants of total four towers. The main objective of acquiring this park is asset creation and lease rental income. It is the second largest deal in Kerala which comprises four towers spread over 6.5 acres and the Carnival Group wants to run the IT Park with its existing business model. The Chairman of Carnival Group, Mr. Shrikant Bhasi said, “Acquisition of this IT Park is yet another step towards achieving our aim. Hospitality, Multiplex, Media and Entertainment has been part of our group, IT had to be the next as they go hand in hand.” It is another feather in the cap for Carnival Group post acquiring HDIL’s multiplex chain Broadway Cinemas for around INR 110 Cr.
The Carnival Group is ready to expand their business into IT industry. With its strong presence and hold in the hospitality sector, Carnival Group now plans to venture into this new segment. Along with this the Carnival Cinemas has plans to become the big player in multiplex business segment with an investment plans in the upcoming years. Expanding their business in the areas of hospitality, media and entertainment and Multiplex, they are moving towards IT sector. Carnival is currently present in Kerala, Karnataka, Tamil Nadu, Maharashtra, Madhya Pradesh, Uttar Pradesh and West Bengal.