Eros Group to invest Rs 125 cr on new housing project in Greater Noida

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Realty firm Eros Group Tuesday said it will invest Rs 125 crore to develop a new housing project at Greater Noida in Uttar Pradesh.

The company, which is also into hospitality sector, will develop 258 units in the new project called 'Eros Sampoornam I'.

The project will be adjacent to the company's existing project Eros Sampoornam wherein 1,800 flats have been delivered.

"After the successful delivery of 1,768 units at this location, we have launched a new phase of development. We will be developing a little over 250 units in four towers.

The project will be delivered in 2023," said Avneesh Sood, Director, Eros Group.

The company has launched this project at Rs 3,800 per sq ft and the size of the units range from 835-1,560 sq ft, he said.

"Eros has been around for more than 70 years and we have a legacy of providing the highest quality and excellence in our products. This new Sampoornam I project is a testament to that legacy," Sood said.

He said the company will meet project cost from internal accruals and advance payments from customers.

Eros Group has two hotels -- Shangri-La's Eros in central Delhi and Eros Radisson Blu Hotel in Faridabad, Haryana. It also runs Vishal Cineplex in West Delhi.

In real estate, the group has developed many housing and commercial (office and shopping mall) projects in the Delhi-NCR property market.