Supertech to invest Rs 750 cr on commercial projects in Delhi-NCR

Supertech will develop 25 lakh sq ft area in retail and commercial segment across Delhi-NCR

Realty firm Supertech Ltd on Monday said it is investing Rs 750 crore to develop retail and commercial projects in Delhi-NCR and has appointed Vijay Kapoor as CEO of the vertical.

Kapoor has worked with PVR, Eros in the past and has 25 years of experience, the company said in a statement.

In April, multiplex operator PVR had sacked Kapoor, its then Chief Business Development Officer, on disciplinary grounds.

"Supertech is investing Rs 750 crore to develop 25 lakh sq ft area in retail and commercial segment spread across Delhi-NCR," the statement said.

The development will take place in Supertech's key commercial projects - Supernova, E square and North Eye.

"Retail segment in India is gaining momentum and Supertech is gearing up to capitalise the opportunity by expanding its retail footprint in Delhi-NCR," said Mohit Arora, Director, Supertech.

To strengthen retail business, he said the company has appointed Kapoor as CEO of the retail and commercial segment.

Almost 400 national and international brands will have their retail presence in projects like Supernova, North Eye, and E-Square in Delhi-NCR.

Supertech is developing about 40 realty projects in Noida, Greater Noida, Gurugram(formerly Gurgaon), Ghaziabad, Meerut, Moradabad, Dehradun, Haridwar, Rudrapur and Bengaluru.