 "Excel Infra to invest ₹252 cr in luxury housing project in Mumbai")
Realty firm Excel Infra Construction on Monday said it will invest Rs 250 crore to develop a housing project in Mumbai.
In a statement, the company said it has launched a luxury residential project at Bandra Reclamation with an investment of Rs 252 crore.
The funding will be through a mix of equity and Alternative Investment Fund (ATF) structured as non-convertible debentures.
The company expects revenue of Rs 400 crore from this project, comprising a 33-storey residential tower comprising 96 units. The apartments in the project named 'Bellissima' are being sold at Rs 51,500 per square feet.
"With a well-structured investment and the adoption of advanced construction technology, we are confident of delivering a project much ahead of the scheduled date of delivery," said Virendra Vora, Promoter and Managing Partner, Excel Infra Construction.
Excel Infra has developed more than 20 projects across Mumbai.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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