Move to help firm monetise 360-acre land parcels in Bangalore, Delhi and Mumbai

Jindal Aluminium plans to enter into real estate industry to monetise its 360 acre land parcels spread on the outskirts of Mumbai, Bangalore and Delhi. The India's largest manufacturing firm of aluminium extrusions is looking for more land parcels to embark into a successful strategy headed by its managing director, Pragun Jindal Khaitan.

The firm is seeking for other real estate firms to form a joint venture and then create residential as well as commercial projects on its currently held land parcels. The company will be developing these land parcels in phases. Along with these planned developments, they are also looking to build capability and skill set to take this new vertical further.

Khaitan, who has majored in finance and strategic management from the Wharton School of the University of Pennsylvania, will also be focusing on organically growing each of the company's business verticals, including aluminium extrusions, aluminium rolling, renewable energy and health care.

Jindal Aluminium has around 300 acres of land on the outskirts of Bengaluru, and some small land parcels on the outskirts of Delhi and Mumbai. Of these, the company plans to immediately develop 200 acres of land outside Bangalore.