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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.
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