Punj Lloyd bags Rs 1,300 cr Delhi Police housing project

Infrastructure major Punj Lloyd today said it has bagged a Rs 1,300 crore contract from the Delhi Police for building a residential complex at Dheerpur, in the national capital.

"The project, with an estimated cost of approximately Rs 1,300 crore, primarily entails development, operation and maintenance of the residential zone of over 5,000 units, along with utility facilities such as sewerage and water treatment," the company said in a statement.

The award bagged by the group's infrastructure arm, Punj Lloyd Infrastructure (PLIL), also involves development and commercial operation of non-residential infrastructure such as schools, healthcare and convenience shopping facilities as per the norms laid down in the Delhi Master Plan, 2021, it said.

"PLIL will be signing a concession agreement with the Delhi Police, which is under the aegis of the Ministry of Home Affairs, for 25 years and will be entitled to semi-annual annuities of Rs 62.75 crore, along with construction milestone-linked lumpsum payments of Rs 316 crore," the statement added.

Speaking about the project, Punj Lloyd Director-Corporate Affairs Luv Chhabra said, "Punj Lloyd is proud to be associated with the Delhi Police and the Ministry of Home Affairs in their endeavour to create high quality housing for its personnel, who have been dedicatedly engaged in ensuring the safety and security of the people of Delhi."

Punj Lloyd has a rich experience in the housing infrastructure sector, right from building the tallest buildings in China and Singapore to several healthcare projects in India, including the country's largest multi-specialty health institute, Medanta.

The group has been involved with some of the most prominent residential properties in the world, including 'Planet Godrej' in India, the Jumeirah Islands Villa project in Dubai and The Edge on Cairnhill in Singapore.