Biscuit to dairy products manufacturer, Britannia, run by the Wadia family one of India's oldest business houses, is drawing up plans to unlock a mega real estate play in the heart of Bangalore.
Britannia, which is India's largest biscuit manufacturer, has its headquarters spread across a 6-acre plus land parcel that's situated on old Airport Road, one of the city's arterial roads connecting the central business district to the IT hub of Whitefield.
According to real estate sources, Britannia has sounded out a number of consultants to look at the prospects of re-developing this land parcel, which at today's prices is valued at around Rs 450 crore.
Given that the particular land parcel is situated on the main road it enjoys a FSI (floor space index) of around 3 to 3.5, which translates to a built up area of 10-lakh square feet, for a 6 plus acre property. Commercial rentals in the area at present hover around the Rs 80 per sqft mark.
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