Media reports of the Salarpuria Sattva group taking over the consumer electronics business of Cloudtail India, the largest seller on Amazon, have not come as a surprise in real estate circles.
This is because of the penchant of the Bijay Agarwal family, the promoters, to diversify into new-age businesses.
In the past three years, the 35year-old group got into many newage businesses such as co-living (student housing and accommodation for working professionals), co-working, data centres, etc.
Besides the commercial and residential real estate business, the Bengaluru-based group has verticals such as embedded technology (which provides embedded product designs and engineering services), defence and aerospace services, education, and so on.
On Thursday, managed office space provider Simpliwork Offices, co-promoted by the group, said it would spend ₹650 crore in the next two years to expand its footprint.
Simpliwork said it planned to double the inventory to ₹6 million square feet by the end of 2023.
In 2018, Salarpuria acquired 50 percent in the company. In April 2019, the group invested about ₹64 crore in co-living space Colive.
This story is from the November 27, 2021 edition of Business Standard.
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This story is from the November 27, 2021 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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