The core activity of the HBG involves the extraction and export of iron ore, the Group has iron mining concession in Goa, which it has held from erstwhile Portuguese Colonial days. These are held in different entities, the Group has decided to consolidate and expand the entire business under a single corporate entity and has decided to focus on the acquisition of iron Ore and Bauxite Mines in the Western region.

Produces over half million tonnes of ore which is exported. The mines have reserves of over 25 Million Tonnes.

The HBG is setting up a magnetic separation plant to upgrade low and medium grade ore to high grade.

The mines have medium grade ore and have estimated reserves of 4 Million tonnes.

The Bauxite mine at Kolhapur will go in production in 2009. It is a large mining with concession estimated in reserves of ore 90 Million tonnes spread over 2100 acres of land.

The Company planning to expand its Hotels & Resorts business owing to the resounding success of its first project at Goa.