BS Reporter / Chennai/ Hyderabad Sep 07, 2010, 00:14 IST
Construction company Manjeera Group is investing Rs 500 crore for its real estate project — Manjeera Trinity — proposed in Hyderabad.
The company has tied up with German investor Trinity Capital that would bring in Rs 80 crore for a 14 per cent equity. While Rs 250 crore would be raised as debt, Rs 125 crore would come as advance from sale of property and Rs 45 crore from the company fund, said G Yoganand, chairman of Manjeera Group, on Monday.
“We are yet to achieve financial closure for the project,” he said. The project would have an office complex — Manjeera Trinity Corporate —a mall and a residential building — Manjeera Trinity Homes. It would have a built-up area of 1.8 million sft and come up on the JNTU-Hitec city road.
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