Peerless Group’s Rs 1000 cr investment in real estate and healthcare

Kolkata-based conglomerate, Peerless Group, is set to invest approximately Rs 1,000 crore ($134m) in healthcare and mixed-use real estate projects in the next three years.

Peerless Group plans to invest Rs 500 crore to develop a 160-bed cancer-care facility, the SK Roy Institute of Oncology Services (SRIOS), to be launched in 2026. The announcement was made at the Group’s flagship company, Peerless General Finance and Investment’s (PGFI) 91st annual general meeting. In addition to this, the company is also considering acquisitions in the healthcare sector.

The Group is set to develop Trayam, a mixed-use real estate project in Kolkata. The development will include retail, commercial, and residential complexes. The project, which will be launched this year, is expected to be completed within the next four years. It represents an investment of Rs 500 crore.

PGFI has obtained a Non-Banking Financial Company-Investment and Credit Company (NBFC-ICC) license. This comes after the group reported a turnover of approximately Rs 961 crore in the previous fiscal year.

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