SURYA PHARMA PLANS TO INVEST Rs 100 cr IN EDUCATION SECTOR.
Published on Monday, June 22nd, 2009 at 9:30 AMAuthor: india_bulls (143 Articles)
Surya Pharma plans to invest Rs 100 cr in education sector
Chandigarh-based Surya Pharmaceuticals has announced its foray into the education arena by setting up a technical institute on the Rajpura-Ambala highway (NH-1). The company has set up a trust, Surya Educational and Charitable Trust, for this purpose which has received the letter of intent from the All India Council of Technical Education (AICTE) for setting up this institute. “We have invested close to Rs 60 crore in this venture and another Rs 40 crore is lined up for expansion in a year,” Rajiv Goyal, president of the society and CMD of the Rs 7-billion Surya conglomerate informed FE.
The Surya group has interests in pharma, health retail chain and infrastructure. The company’s turnover in financial 2008-09 was Rs 752 crore, a growth of 45% over last year and this fiscal, it expects a turnover of about Rs 1,200 crore.
Goyal said that the institute will offer five courses in engineering and technology, management, computer sciences, pharmacy and architecture. “The fee structure will be as per the Punjab Technical University norms and the admissions for the courses to begin by August will be open soon.”
The company plans to start three more institutes-to offer courses in hotel management, dental studies and nursing-in the next one year in a 27-acre campus. This will take its investment into the project to Rs 100 crore. As part of the practical training, a hotel, a shopping arcade and cinema halls will also be set up on the campus. Earlier this month, the group had launched its new healthcare retail chain VIVA. So far the company has opened five outlets in Delhi and plans to open 80 more in the NCR by the end of this fiscal.
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