Jaiprakash Associates, aka the Jaypee Group, are recouping some of the Rs. 1800 crores that they invested in the Buddh International Circuit by allowing super-rich amateurs to rent the track out when it's idle. According to ET, petrol-heads such as the Raymond group's Gautam Singhania are apparently happy to splurge Rs. 25–30 lakhs over two days to let their shiny red cars and superbikes run free.
"Around 200 events were held at the tracks last year. Many of them were exclusive track days booked by wealthy car and bike owners. The number of such inquiries and bookings is growing," says Askar Zaidi, vice-president, corporate communication, Jaypee Group.
The Jaypee group has invested 1,800 crore in building the F1 race circuit, and events like these help in monetising the assets, besides helping appreciate the price of real estate developed around the track, he says.