Real Estate Giant Hiranandani Group To Invest Rs 3,500 crores In Its New Venture Tez Platforms

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Real estate firm Hiranandani Group has entered the technology-led consumer services business through a new venture and expects to invest up to Rs 3,500 crore over the next two-three years, its top executive told ET.

Tez Platforms will focus on solutions in the entertainment and gaming space, apart from social media, ecommerce, personal mobility, artificial intelligence and blockchain-linked solutions, group chief executive Darshan Hiranandani said.

“We believe that the potential of digital has barely scratched the surface. We are widening our focus on technology-led, new-age services. Yotta Infrastructure will continue to be the vehicle for us to invest in areas of cloud computing, interconnectivity, enterprise applications and enterprise cyber security technologies, which are enhanced by our hyperscale and edge datacenter roll-outs. Separately, through Tez Platforms we intend to incubate and work with leading technologies and partners (both domestic and global) in other areas as well, in the next steps of our journey,” Darshan said in a statement.

Also, Read This: Proptech startup POPTSCAN Realty Bags USD 2 Mn From Canada-based MRW Ventures and Riar Holdings

Tez’s initial outlay to launch services this year will be about Rs 1,000 crore. Over the next 2-3 years, it expects to invest approximately Rs 3,500 crore.

Tez Platforms will leverage talent from various Hiranandani Group entities but also has aggressive plans to hire about 250 employees within 5-6 months.

“We are hiring in areas like digital solutions, technology and gaming. We have worked with various outsourcing partners, but it is no longer possible as we want to launch our products and offering very soon,” he said.

The company will focus on solutions that offer an immersive experience, irrespective of whether it is consumed on the Metaverse or similar technology, he added.

Also, Read This: Bengaluru-based NoBroker Becomes India’s First Property Tech Unicorn

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