Xander to invest Rs. 400 crore for residential projects in Gurgaon
Realty firm Supertech has raised Rs. 400 crore from the private equity firm (PE) Xander to finance its upcoming township and housing projects in Gurgaon.The company will develop plots, villas and independent homes in the 140-acre township at an investment of about Rs 1,100 crore.
The company said in a statement that Supertech has received an investment of Rs 400 crore ($66 million) from the Singapore-based real estate investment arm of The Xander Group Inc. Township and group housing projects in Gurgaon will receive this investment.
Mohit Arora the director of Supertech stated that the company has offloaded almost 50 % stake in the township to the Xander group. This township will be launched shortly and the company will develop over 1,200 plots/low-rise independent homes and 300 villas here.
Rohan Sikri the partner at Xander Investment Management, Singapore stated that they will continue to see the National Capital Region (NCR) as an important market for them in India. Sikri also mentioned that the relationship with Supertech reinforces their investment appetite for end user focused residential projects with quality partners.
Supertech has over 90 million square feet of space under construction and they cumulatively are worth more than Rs.18,000 crore. It has a presence in Noida, Greater Noida, Gurgaon, Ghaziabad, Meerut, Moradabad, Haridwar, Rudrapur and Bangalore.
Since 2005, the Xander Grouphas committed over $2 billion of capital to the Indian market across private, public and credit investments. They are a global investment firm focused on the infrastructure, hospitality, retail and real estate markets.
Source- The Financial Express
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