The deal values the Faridabad-based real estate developer at Rs 8,333 crore. BPTP made news this year when it bagged a Rs 5,006-crore land deal in Noida, outbidding well- known developers such as DLF, Omaxe and Ansal Housing & Construction.
Citigroup Property Investments (CPI) holds 5.89 per cent in the company, which it bought for Rs 322.50 crore last year. "The Noida deal and the company's plans to make it a business complex has increased the valuation of the company,'' the sources said.
BPTP paid the amount for the Noida deal after seeking an extension for the first instalment of Rs 1,251.5 crore.
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