October 25, 2007 / 2:34 PM / 10 years ago

Akruti Nirman to invest 15 bln rupees in Pune

MUMBAI (Reuters) - Mumbai-based real estate developer Akruti Nirman Ltd said on Thursday it plans to invest 15 billion rupees to expand operations in Pune.

Akruti said it had acquired 150 acres in the city and planned to develop 12 million square feet over the next three years. This would include residential and commercial complexes, hotels and special economic zones, it said in a statement.

Ahead of the announcement, Akruti shares ended 1 percent higher at 995.65 rupees, in a strong Mumbai market.

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