New Delhi, July 23: Real estate firm GTM Builders and Promoters Ltd is targeting a revenue of Rs 500 crore in the next three years from eight projects that the company is presently developing in five different cities, which includes a hub of educational institutes in Jaipur.

"We are developing eight real estate projects at present. We are targeting a revenue of Rs 500 crore during next three years from these projects," company's vice chairman cum managing director Tushar Kumar told reporters.

However, he refused to comment on the investment that the company would be infusing to develop these projects.

The company, which posted a turnover of Rs 30 crore in 2005-06, has two projects each in Jaipur, Dehradun, Kashipur (Uttaranchal) and one each in Gurgaon and Nainital.

Capital-based firm is developing a hub of educational institutes in Jaipur in 1.36 lakh sq ft of area.

"We have introduced a new concept of hub of educational institutes which would revolutionise professional and vocational training in the country," he said, adding that it plans to develop 10-15 such hubs in next five years.

Besides, it is developing a residential complex in Gurgaon covering two lakh sq ft, which would get completed by the year end, Tushar said.

In Dehradun, GMT is constructing a residential project in 10 lakh sq ft area and a shopping mall in 20,000 sq ft, he said. It is also developing about 100 holiday cottages in Jaipur and Nainital, while in Kashipur it would sell about 550 plots for setting up a township.

The company, which also has a jewellery mart in the capital, plans to open two such marts in Dehradun and Jaipur, he said.

Source : Zee News