Flawless Diamond enters into Construction & Realty Development Business

Flawless Diamond India Ltd has announced that the Board of Directors of the Company has announce that the Company has decided to enter into the Business of Realty Development and Construction. Initially The Management has decided to invest upto INR 500 Mn in this business.

Mr. Kamal U Jain, the Chairman of the Company, who is also going to head this division, maintains that "Realty Development & Construction Business is well growing field and with the Management's vast experience in this field it is being decided to tap the best available opportunity in this field. Initially the Company will focus on developing Shopping Malls, Residential Complexes and Construction Business and later on the Company will take up the Infrastructure Projects and Government Contracts also. Mr. Jain Maintains that this business will increase the Intrinsic value of the share holders."

Source : Equity Bulls

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