Big realty players announce investment of Rs 8000 cr on projects
New Delhi: Developers like Supertech and Ansal API announce an investment of Rs 8,000 crore on projects in next four years.
Companies like DLF, looking forward to cut of the debt rather than increasing the price and sale of housing in the coming year. In next three to four years, realty developer Supertech said that, the firm will invest Rs.5,500 crore in new residential projects in North India.
The Chairman of Supertech and MD R K Arora added that their aim is to raise the annual revenue from Rs 2,500 to of Rs 10,000 crore by 2015.
The collected amount will be invested to develop housing projects and acquire land bank in NCR and Uttarakhand. Although NCR based Supertech has about 1,000 acres of land in the Northern states.
As per MD R K Arora, within next three to four years, 400-500 acres of land will be acquired by the firm with a minimum investment of Rs. 2,500 crore.
Ansal and Infrastructure also announced to invest Rs 1,500 crore in 2013-14 on other new constructions across the country. Ansal, the NCR based realty firm is currently borrowing Rs 1,350 crore and will be debt free by the end of the next three years, through the help of new projects.
Bangalore based firm, Mantri will invest Rs 750 crore to develop three new housing projects in Maharashtra and Karnataka next year and the project will be ready by next 2-3 years. The company is working on 10 new projects at various locations of Western India.
By March 2013 DLF will launch three to four projects in Gurgaon and this will help the company to reduce the debt through the sale of non core assets and improved cash flow.
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