Prajay Engineers Syndicate Limited (PESL) has informed that it will be launching ‘Prajay Autopolis’, an automobile mall, in Hyderabad. The mall will be set up on a 35-acre site adjacent to Mumbai highway (NH 7), about 2 km from the proposed outer ring road. It will have over 30.87 lakh square feet of constructed area. The company is currently finalising the layout plans and the concept designs for the project. It has appointed international architects and planners for the assignment. The construction is expected to begin by the end of the year and the mall is expected to open in the second half of 2008. PESL stated that it was in talks with several leading automobile companies in India to finalise space bookings in the mall. The company expects revenue in excess of Rs 670 crore over the next three years from this venture against an estimated cost of Rs 400 crore. According to the company, Prajay Autopolis is a novel initiative in auto retailing in India, where consumers will have the convenience of buying automobiles in a multi-brand retail space. It will be an end-to-end automobile solutions location comprising sales, servicing as well as warehousing.
The project will combine mega automobile showrooms with administrative, servicing and warehousing area across more than 18 lakh sft. This will also include facilities for automobile financing institutions and insurance services to create a complete range of services required for automobiles, for both automobile companies and their customers. It will also have a multipurpose convention centre measuring 1.61 lakh sft for auto fairs and product launches, in addition to having a multi-level car parking facility and civic conveniences. PESL also envisages to build three towers comprising an Information Technology Park at the same venue. The IT Park will have a total constructed area of 15.08 lakh sft. In addition to the IT Park, the mall will have an office block above the showroom space for administrative offices and warehouses for auto companies.
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