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Della Tecnica to invest Rs 1,500 cr in 5 villa projects

Press Trust Of India  |  Mumbai 

Architectural and interior design consultancy firm Della Tecnica is planning to set up villa projects in five cities in next three years with an investment of around Rs 1,500 crore, a top company official said.

"After receiving an encouraging response to our villa project in Lonavala in Pune, we now plan to set up five more in major cities like Bangalore, National Capital Region (NCR), Kolkata, Indore and Ahmedabad in next three years," Della Tecnica Chairman and Managing Director Jimmy R Mistry said, adding that the company will invest around Rs 1,500 crore for these launches.

The Mumbai-headquartered firm, which has launched a villa project along with an adventure park and resort in Lonavala, will fund these projects with a mix of debt and equity.

"While 30 per cent of the fund will be through equity, rest 70 per cent of the money will be raised through debt," he said.

The company is also eyeing for private equity investment on project basis in the future.

"Though we don't have any immediate plans to bring in private equity, we will look at it in the future if valuations are attractive," Mistry said.

Della Tecnica, which has invested around Rs 250 crore in its Lonavala project, is profitable on entity level as of now, he said.

"We are profitable on entity level as of now and our balance sheet will be free of debt by 2013. So, our profitability should improve in the future," Mistry said.

Referring to listing plans, he said the company is no hurry to list as it will wait till a certain scale is attained in the revenue front in the near future.

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First Published: Wed, April 11 2012. 00:20 IST