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Supertech repays Rs 70 crore loan to Indiabulls group

Supertech Capetown is one of the largest group housing projects of NCR with 8,000 residential units

Press Trust of India  |  New Delhi 

Supertech
Supertech

Realty firm has repaid Rs 70 crore loans to group using funds it had raised from last week. The Noida-based developer had raised Rs 430 crore from last week. According to sources, has repaid Rs 70 crore loan to The remaining amount would be utilised to complete construction of a housing project in Altico Capital's investment is towards the development of Supertech's Capetown project in Sector-74, Noida, which includes ORB and CapeLuxe Towers. Capetown is one of the largest group housing projects of NCR with 8,000 residential units. This project is an advanced stage project totalling around 11 million sq ft, of which around 5.5 million sq ft has been delivered and possession has been handed over to over 4,300 units. is focusing on delivery of projects and has handed over more than 22,000 homes in the last 3 years.

It is working towards achieving the delivery target of 10,000 homes this financial year. The company had few months back raised Rs 350 crore from L&T Finance to complete its housing project Eco Village in Greater West, which is known as Extension. Its sales bookings fell to about Rs 1,500 crore last financial year from around Rs 3,000 crore in the previous year. But the company expects sales to improve this financial year. The company has projects in Noida, Greater Noida, Ghaziabad, Gurugram, Meerut, Muradabad, Dehradun, Haridwar, Rudrapur and Bengaluru.

First Published: Mon, December 25 2017. 19:05 IST
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