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| Swati Infra to put Rs 300 cr in realty projects |
| Vimukt Dave / Mumbai/ Rajkot Aug 25, 2010, 00:34 IST |
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Rajkot-based Swati Infratech Privet Limited is planning to invest about Rs 300 crore in real estate projects in Rajkot and Bangalore. The company has undertaken development of residential townships in both Rajkot and Bangalore.
“We have invested Rs 100 crore in a township project at Rajkot comprising 1,000 residential units. Almost 50 per cent of its work is complete. In the next two years we intend to invest another Rs 100 crore in the project. We will also be developing a similar township in Bangalore,” said Dhirubhai Ramani, managing director of Swati Infratech. The residential units will be priced in the range of Rs 18 lakh to Rs 30 lakh.
On the Bangalore project, Ramani said, work on the township would will begin in 2012 and the company would invest about Rs 200 crore. “At present we are in the process of acquiring land of about 100 acres.”
Brushing aside any plans to enter the capital market, Ramani said the company would manage funds through loans and internal accruals.
Meanwhile, the township project in Rajkot is expected to be completed within two years.
According to Niraj Ramani, director of Swati Infratech, while the first phase of the project has been completed, the second phase will include a multiplex, shopping mall, children's park and a club house.
To popularise its project, Swati Infratech has also announced a scheme where the company will provide a cow with each residential unit.
The company will also provide stable in the township for a monthly maintenance of Rs 5,000.
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