Supertech eyes Rs 4k-cr turnover in three years

The company is in talks with potential investors from Singapore and West Asia

In a bid to double its turnover to Rs 4,000 crore in the next three years, real estate major Supertech is planning to bring in FDI in specific projects.

"We are planning to execute a total of 80 million sq ft projects in around 50 projects in three years," said Supertech chairman R K Arora.

The company is also launching a host of commercial projects - some in the health care and hospitality segments - and building sports complexes for the next level of growth.

Arora said the company was in talks with potential investors from Singapore and West Asia. It plans to take the special purpose vehicle (SPV) route to get funds from abroad to invest in specific projects.

"We are planning to bring in FDI and work with an international company at a project level. We are in talks with a couple of companies and will be making an SPV for the project. But, it will not have a link with the main company."

Arora added the talks were still at a nascent stage and the amount of investment and the investee company would be disclosed at a later stage.

Supertech is also working on a couple of ultra-luxury projects in the region. Earlier, it had roped in Armani Group to do interior design in 100 super-luxury residences at a mixed-use project in Noida and Disney Group for Disney-themed homes in Greater Noida.

On the commercial front, the firm plans to develop a million square feet of space and lease it to a multinational company. "We are developing one million square feet of commercial space in our project in Supernova. We want to tie-up with a multi-national firm such as Google to take the property on lease. We have more than 1000 acres of land in NCR both developed and undeveloped," Arora said.

In August, the company had announced its plans to enter the healthcare segment by opening hospitals in the company's integrated township projects. In the initial phase, the company will invest Rs 100 crore to open its first 100-bed super speciality hospital in its residential complex "Cape Town"; in Sector 74, Noida. This will be followed by the launch of three more hospitals in the next three to four years with an investment of Rs 200 crore.

Construction for the first hospital has already commenced and Supertech plans to complete it by May 2017.