Ackruti City eyes Rs 200 cr from BKC office complex sale

Real estate developer Ackruti City is looking to raise around Rs 200 crore from sale or lease of its 10-storey office complex at a posh commercial area in the heart of the city.

The realtor wants to sell or lease the 'Ackruti Gold' building in Bandra-Kurla Complex (BKC), which offers 68,000 sq ft of office space in addition to ample parking area.

"Ackruti Gold may fetch us around Rs 200 crore. We are open to sale or lease of the property, depending upon the requirement of buyers," the company's Chief of Sales Business, Mayur Shah, told PTI here.

The BSE-listed company may use the money from the deal to fund future projects.

"We are giving it finishing touches and the property would be fully complete for delivery in another two months," Shah said.

He said the company is developing a couple more commercial spaces, which may be put on the block in a few months time.

Earlier this month, the company raised over Rs 302-crore by issuing over 60-lakh equity shares through a qualified institutional placement (QIP).

Shares of Ackruti City closed at Rs 538.50, marginally up by 0.46 per cent over its previous closing price on the Bombay Stock Exchange.