The Peerless Group on Monday announced ambitious plans to invest over Rs 1,000 crore in capital expenditure over the next three years, a major portion of which will be channelled into the development of hospital and real estate projects. In the financial year 2022-23, the Peerless Group reported a revenue of Rs 635 crore from operations.
The group’s flagship Peerless General Finance & Investment Company (PGFI) obtained the license of a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC) from the Reserve Bank of India during the year.
The most exciting announcement comes from the group’s real estate arm in the form of a 15-floor twin-tower retail-commercial-residential project scheduled to come up over 2.37 acres near the Biswa Bangla Gate in Action Area II in New Town in Calcutta