Aparna Constructions, Estates invests Rs. 284 cr into retail, entertainment
Hyderabad: Aparna Constructions and Estates Private Limited, a leading real estate developer in South India, on Monday announced their foray into the retail-commercial and entertainment segments with the launch of Aparna Neo Mall and Aparna Cinemas in Hyderabad.
Strategically located in the rapidly developing Nallagandla region, Aparna Neo spans 3.67 acres with an impressive 3.5 Lakh square feet area, making it the sole mall within an 8 km radius. Aparna Constructions has made a significant investment of 252 crore rupees in Aparna Neo, aligning with its broader business diversification goals. Additionally, the company has invested 32 crore rupees in Aparna Cinemas, furthering its foray into the entertainment segment.
Expanding Horizons: Aparna Constructions Ventures into Retail and Entertainment
Set in the prestigious Nallagandla enclave, a thriving IT hub, Aparna Neo Mall is a testament to sophistication and modernity. With over 80 meticulously curated stores, it redefines upscale retail experiences. Aparna Neo Mall caters to the needs of over 25,000 upper-mid & upper-segment families, 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, Director of Aparna Constructions and Estates Rakesh Reddy said, “Since 1990, the Aparna Group has consistently diversified its portfolio across various 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 attracting a significant influx of new residents. This rapid urbanization fuels growing demand across the residential, commercial, and retail real estate categories. We want to be well positioned to cater to consumer aspirations.”
Innovative Offerings at Aparna Neo Mall and Aparna Cinemas
The launch of Aparna Cinemas reflects Aparna’s strategic commitment to create more tailored experiences for their consumers. India's entertainment and media industry is growing significantly and is expected to reach $73.6 billion by 2027. Subsequently, theatre-goers 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 about capturing the entertainment market in South India.
“We have plans to open 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 grew by 20 percent and 10 percent, respectively, year-on-year. We remain steadfast in our commitment to exploring new opportunities and delivering value to our stakeholders, solidifying our position as a real estate pioneer,” Reddy further added.