Realty firm Supertech Ltd plans to sell its two hotels in Uttar Pradesh and Uttarakhand for an estimated Rs 250 crore as part of its strategy to monetise commercial assets and boost cash flow in the company.
Asked about the expected deal value of these two hotels, Arora said the company would appoint consultants for valuation of these two assets.
"We are focusing on completing all our existing projects. We require funds for construction," Arora said.
The company has more than 30 ongoing projects, primarily in Delhi-NCR.
Besides its own projects, the company has decided to take up stuck projects of other builders and has tied up with Gold Souk to develop a housing project in Gurgaon with expected sales revenue of Rs 200 crore.
It is in talks with three other local builders to add more projects in its portfolio, the company's managing director Mohit Arora had said yesterday.
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