N S Raghavan, one of the co-founders of Infosys, is expanding his presence in the hospitality sector.

Nadathur Holdings, the investment vehicle owned by Raghavan, through one of its affiliates SilverNeedle Hospitality has formed a joint venture with Sri Lanka-based Sunshine Travels.

This joint venture is expected to invest approximately $50 Million in a pha-sed manner to develop, acquire and manage hotel ass-ets in different parts of the country.