“The company has created a fully owned subsidiary entitled Reliance SOU (RSOUL) to engage on, among alia, the operation of developing of buildings for commercial use,” it stated in a BSE filing.
The reliance sector has made a move into commercial real estate.
Reliance SOU (RSOUL) is a completely owned subsidiary that the corporation has established to conduct, among other things, the construction of property for commercial usage, according to a BSE filing.
It has put Rs 1,000,000 into RSOUL’s equity shares.
It already has a firm by the name of Model Economic Township, a division of Reliance Ventures, which in turn is an entirely subsidiary of Reliance Industries, building industrial, residential, and commercial townships in Jhajjar, Haryana.
