MUMBAI: Hiranandani group, India's leading realty firms, will invest around Rs 8,500 crore over the next three years to develop data centres and industrial parks across various cities. Hiranandani group founder and chairman Niranjan Hiranandani said the real estate market has recovered quite a lot after the severe impact on sales during the April-June quarter.

Housing sales in November were 20 per cent up on an average across major cities, as compared with the same month last year, said Hiranandani. Still, Hiranandani expects sales to be lower by 15-20 per cent during 2020. He hoped restoration of normal business activities by March next year. Hiranandani said: "We have set up the Asia's largest data centre in Navi Mumbai.

We are now planning second data centre in Greater Noida and the third one near Chennai." "We are going very aggressive on data centre side," he added. To tap rising demand of data storage capacity, Hiranandani Group had forayed into the development of data centre parks with its new business venture Yotta Infrastructure last year.

Macroeconomic uncertain, economy to shrink by 10pc this FY: Pronab Sen

Oil Stocks focus As Crude Moves Past USD 50/Bl Price

Impact of FPI’s inflow in the stock market