Nesco Ltd has planning to invest over Rs 2,000 crore in the next five to seven years to foray into the hospitality segment as well as expand its existing IT space offerings and add new exhibition centres. The company, which is into real estate, exhibition centre, food and beverages (F&B) and engineering businesses, is also planning to set up a convention hall at its Nesco Centre in Goregaon in suburban Mumbai. ‘We are strategically expanding our business into newer segments to take advantage of the changing environment. While we will continue to add more exhibition halls, we are also planning to enter the hospitality segment by launching hotels for the convenience of the exhibitors and visitors,’ company’s chairman Sumant Patel, media reported. The company, he said, will be investing Rs 2,000 crore over the next five-seven years for entering new verticals and expanding other businesses, which will be completely funded by its internal accruals. ‘Our current cash reserves are about Rs 700 crore, which will be used to fund these projects in addition to yearly net inflows from our various business over the next five-seven years,’ Patel added. As part of this strategy, the company plans to build its third IT building of nearly 40 lakh sq ft along with a four-star business hotel.