Aparna Constructions Diversifies, Invests INR 284CR in Retail and Entertainment

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Mumbai, 27thMay, 2024: Aparna Constructions and Estates Private Limited, a leading real estate developer in South India, has today announced their foray into the retail-commercial and the entertainment segments with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad. Located in the rapidly developing Nallagandla region, Aparna Neo is spread across 3.67 acres with an impressive expanse of 3.5 Lakh square feet, and is the only mall within the 8 km radius. Aligned with their broader business diversification goals, Aparna Constructions has made a strategic investment of INR 252 CR in Aparna Neo and an additional investment of INR 32 CR in Aparna Cinemas.

Nestled in the prestigious enclave of Nallagandla, a thriving IT hub, Aparna Neo Mall stands as a beacon of sophistication and modernity. Boasting an impressive array of 80+ meticulously curated stores, Neo sets the standard for upscale retail experiences. Aparna Neo is dedicated to serving the needs of over 25,000+ upper-mid & upper segment families in the region, offering a wide range of luxury cosmetics, high-end apparel, travel necessities, technology, gourmet dining, and premium quality entertainment options.

Furthermore, Aparna Neo Mall will boast an array of retail offerings, complemented by the addition of Aparna Cinemas, providing patrons with a top-tier cinematic experience. Aparna Cinemas features state-of-the-art facilities, including the latest Dolby sound systems and 4K projection screens, ensuring an unparalleled audio-visual experience. The 1200+ seater cinema is designed for a premium movie-watching experience with maximum comfort and a variety of in-movie dining options facilitated by its own on-site kitchen.

Speaking about the launch and the company’s business plans for the year, Mr. Rakesh Reddy, Director, Aparna Constructions and Estates said, “Since 1990, the Aparna Group has consistently diversified its portfolio across a variety of business segments. Aparna Constructions’ foray into the retail real estate and entertainment segments is another monumental step in our growth trajectory. Aparna Neo not only marks the milestone of our first mall launch, but also echoes our in-depth understanding of the market dynamics in the region. Hyderabad is poised to emerge as the 4th fastest growing city, driven by a booming IT/GCC sector that is attracting a significant influx of new residents. This rapid urbanization is fueling growing demand across the residential, commercial, and retail real estate categories. We want to be well positioned to cater to consumer aspirations.”

The launch of Aparna Cinemas reflects Aparna’s strategic commitment to create more tailored experiences for their consumers. The entertainment and media industry in India is growing significantly and is expected to reach $73.6 billion by 2027. Subsequently, the number of theatre-goers has also increased by 29% reaching 15.7 crore individuals in 2023. With premium facilities and the latest technology, Aparna Cinemas is set to offer an unmatched cinematic experience and is optimistic to capture the entertainment market in South India.

“We also have plans for 4 new malls, each featuring Aparna Cinemas as the entertainment unit across Telangana and Andhra Pradesh, by 2027. Meanwhile, our flagship residential real estate and commercial portfolio continues to grow by 20% and 10% respectively, y-o-y. We are committed to exploring new opportunities and delivering value to our stakeholders, cementing our position as a real estate trailblazer”, added Mr. Reddy.