Supertech to develop ongoing projects
Posted by paragjani on December 29, 2009
Realty company Supertech will invest about Rs2,500-crore over the next four years to develop its various ongoing projects in Uttar Pradesh and Uttaranchal.
R K Arora, Chairman and Managing Director, Supertech said, “We have more than ten projects in hand comprising group housing, integrated townships, hotels and shopping malls.”
These projects are located in Noida, Greater Noida, Ghaziabad, Meerut, Rudrapur, Moradabad and Haridwar.
The cost incurred on these projects would be about Rs 2,500 crore, including land, construction and other expenses.
The firm will fund 50 per cent of investments through debt while the remaining would be managed through internal accruals and advances from customers.
Supertech is also looking at raising funds from private equity for its 51-acre integrated township at Meerut. The company plans to develop about 3,000 apartments and 10 lakh sq ft of commercial area at an investment of about Rs500-crore.
Source:http://www.pwindia.in/News/Real_Estate/09-12-28/Supertech_to_develop_ongoing_projects.aspx
