Binani Cement — the flagship company of the Binani Group — is getting into commercial real estate development in order to cash in on its idle land bank and to reduce dependence on the cyclical nature of the cement business. The company has decided to develop an information technology park jointly with a partner on 56 acres of land it has in Thane near Mumbai.
The construction work will start in a few months and the project is expected to be completed by next year, said a person close to the matter.
