Supertech to raise Rs 3,000 crore
17 May 2012 3:36 AM GMT
Realty firm Supertech on Wednesday said it plans to raise about Rs 3,000 crore in the current fiscal through private equity for funding its various projects.
The company also announced foray in the Gurgaon market with a housing project to be developed in a joint venture with an investment of Rs 400 crore over the next three years.
‘We are planning to raise about Rs 3,000 crore this fiscal for the development of our various projects including the large 50-acre housing project Capetown in Noida,’ Supertech director Mohit Arora said.
He said the company has recently raised Rs 100 crore from a private equity firm Walton Street Capital for mixed-use project 'Supernova' at Noida.
‘We are in talks with many private equity players to raise funds. The deals are expected to close soon,’ Arora said, but declined to name the Private Equity firms.
‘We are entering into Gurgaon market with a group housing project. We will develop about 600 apartments on a 10-acre land at a cost of Rs 400 crore,’ Supertech chairman and managing director R K Arora said on Wednesday.
The company also announced foray in the Gurgaon market with a housing project to be developed in a joint venture with an investment of Rs 400 crore over the next three years.
‘We are planning to raise about Rs 3,000 crore this fiscal for the development of our various projects including the large 50-acre housing project Capetown in Noida,’ Supertech director Mohit Arora said.
He said the company has recently raised Rs 100 crore from a private equity firm Walton Street Capital for mixed-use project 'Supernova' at Noida.
‘We are in talks with many private equity players to raise funds. The deals are expected to close soon,’ Arora said, but declined to name the Private Equity firms.
‘We are entering into Gurgaon market with a group housing project. We will develop about 600 apartments on a 10-acre land at a cost of Rs 400 crore,’ Supertech chairman and managing director R K Arora said on Wednesday.
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