Corporate Reporter

CHENNAI: Country Club India Ltd. (CCIL), an entertainment and leisure infrastructure conglomerate, is planning to open 100 Country Klub 2007 (CK27) in the next two years, as part of its expansion plans.

CK27 or Country Klub 2007 is a satellite club model with state-of-the-art infrastructure to meet complete family needs.

Y. Rajeev Reddy, Chairman and Managing Director, told The Hindu that as part of the expansion drive, CCIL had begun penetration into city neighbourhoods with a satellite club model CK27.

“We have earmarked Rs. 1,000-crore for creating a chain of nearly 100 CK 27s in two years across India. We will mobilise more funds through debt and equity. We are already talking to private equity and foreign players to raise the resources,” Mr. Reddy said, adding that recently it had raised around Rs. 486 crore through global depository receipts/qualified institutional placement issue.

The first of the CK 27 was opened recently at Koramangala in Bangalore, and a few more would shortly come up at Mumbai, Delhi, Ahmedabad and other metros.

Mr. Reddy said in the next two months seven CK27 would be opened in Noida, Ahmedabad, Vashi (Mumbai), Kolkatta, Pune and two more in Bangalore. Out of the 100 planned, 50 would be leased properties and the rest would be owned.

CCIL made a foray into luxury clubbing under its brand Country Club Kool. It would, as a brand, anchor as a premium league of niche cubs. It already has kool clubs at Ahmedabad, Bangalore, Delhi, Mumbai and Kolkata a property upgraded to kool category. The latest addition under this category is Country Club Jade Resort in Chennai.