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Piramal Realty eyes Rs 2,200 cr sales revenue from Mumbai housing project

Press Trust of India  |  New Delhi 

group's firm Realty today said it expects Rs 2,200 crore sales revenue from the second tower of its luxury housing project in south

The company had tied up with for housing project 'Mahalaxmi' that has over 2 million sq ft of development potential. The total investment is estimated at Rs 2,600 crore to develop the entire project, which will have three towers.

said in a statement that the company has launched the second tower in this project.

The 70-storeyed 'Central Tower' would have 150 units with starting price of Rs 6.64 crore.

"Excellent connectivity, lifetime views, competitively priced residences with a premium address in a city such as will continue to remain the unique selling point of Piramal Mahalaxmi. Together, the two towers will represent a new era of contemporary living," said

When contacted, a said: "We are expecting a total sales realisation of about Rs 2,200 crore from the second tower".

In the first tower, the company has sold 300 units for about Rs 1,500 crore and is left with about 150 units for sale.

The company would launch one more tower in this project.

has over 15 million sq ft of land under development. and Warburg Pincus, two international equity partners, have invested about USD 434 million in the company at the entity-level.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 12 2018. 18:50 IST