Riding on direct land allotment and Rising Rajasthan investment summit, RIICO is well on its way to clock record turnover in this financial year.
RIICO has earned Rs 650 crore through sale of industrial plots in two lots. In the first lot the corporation earned Rs 350 crores from sale of 103 industrial plots through e-lottery while the second lot helped RIICO earn another Rs 300 crore through e-auction of 182 industrial plots.
In last fiscal, the turnover of RIICO was Rs 1,804 crore (unaudited) while in 2023-24 fiscal, it was Rs 1,944 crore.
“Sale of plots contributes 70-75% of the total turnover. The other income comes from service charges, interest from industrial and other sundry income. The pace at which plots are getting auctioned, we expect to clock a record turnover this year,” said a senior RIICO official.
Apart from regular auctions, RIICO has firm plans to boost the income further.
“Within a week RIICO will put on auction plots for hotel, hospital, institutional and other commercial purposes to facilitate the MoUs exchanged in the non-industrial category. We have identified around 500 plots which will be e-auctioned. This will not only fuel development but also add to the corporation's revenue,” said Ajitabh Sharma, RIICO chairman and principal secretary industries.
Second phase of direct land allotment from May 15
Looking at the growing enthusiasm of investors in Rajasthan, RIICO will start the second phase of direct land allotment from May 15, 2025. Investors who have signed MoUs till April 30, 2025 will be eligible for participating in this phase.
According into sources, the number of investors signing up till March 15 was 1800. Since then 2,000 more investors have shown interest in investing in the state.
“Direct land allotment scheme has become popular among investors. We are getting great response from the industry. The scheme is valid till June and we expect to earn more in the second phase than the first phase,” said Shivangi Swarnkar, managing director RIICO.
What is direct land allotment policy?
Under this new policy, projects not needing any environment clearance will have to be completed within two years and those requiring environment clearance will have three years time for completion.
The investor will get the allotment directly if there is no other contender for the particular land.
“But if there are more than one contender then the allotment will be done through e-lottery,” Swarnkar said.
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