Ambuja Realty plans Rs 4,000 cr housing projects in 5 yrs

Ambuja Realty Development today said the company would execute projects worth Rs 4,000 crore in the next five years.

Company Chairman Harshvardan Neotia said that all options would be kept open for raising funds for the projects.

Neotia told PTI the company had kept options open for divestment in the closely held company.

"IPO or any other means to raise funds would depend on several conditions like market response, project schedules, booking, bank credit and capital market conditions. If the situation demands, we are open to raise funds from the market, but there is no plan as of now," he said.

Ambuja was developing a green-city project spread over 122 acres in Amritsar through a joint venture route.

Meanwhile, Neotia said the City Center II would be thrown open before the festive season and the company had almost finalised the foreign partner to run the proposed five star hotel.

He, however, declined to name the partner.