December 11, 2024 |
KREEVA, Shapoorji Pallonji Real Estate, ASK to invest Rs 270 cr in Gurugram housing project
Kanodia Group real estate arm KREEVA, ASK Property Fund and Shapoorji Pallonji Real Estate will jointly invest about Rs 270 crore to develop a housing project in Gurugram. “ASK Property Fund, KREEVA and Shapoorji Pallonji Real Estate have announced joint development of a residential project in Sector 46, Gurugram, with a joint initial investment of Rs 270-plus crore,” KREEVA said in a statement on Monday.
Spread across 1.74 acres, the project will generate top-line revenues exceeding Rs 1,200 crore over the next five years.
Venkatesh Gopalakrishnan, Director, Group Promoter’s Office, MD & CEO of Shapoorji Pallonji Real Estate, said, “Our collaboration with KREEVA and ASK Property Fund for the Sector 46 project in Gurugram underscores our commitment to delivering high-quality residential developments that meet the evolving needs of discerning customers.”
Gautam Kanodia, Founder of KREEVA and Co-founder of Kanodia Group, said this investment is crucial for the growth of the company.
“These funds will allow us to broaden our expansion plans,” Mayank Jain, CEO of KREEVA, said.
KREEVA plans to launch three ultra-luxury projects by 2025-end in the Delhi-NCR market.
Kanodia Group manufactures cement and personal hygiene products. It has recently forayed into real estate and media businesses.
Source : ET
Related Articles
Why M3M Opus at M3M Merlin is the Smartest Investment Choice in Gurgaon?
M3M Opus at M3M Merlin sector 67 Gurgaon redefines the aspect of luxuries in living by its architectural brilliance, unparalleled […]
Invest in Emaar Serenity Hills – Premium Apartments near Dwarka Expressway Gurgaon
Emaar Serenity Hills Sector 86 Gurgaon is an ultra luxurious residential project designed by Emaar India which has earned its […]
Top Reasons to Invest in Ashiana Aaroham Sector 80 Gurgaon Today
Ashiana Aaroham Sector 80 Gurgaon is one of the landmarks when it comes to transformation in residential project in the […]