Su­pertech raised Rs 400 crore from Xan­der for its Gur­gaon hous­ing project

Accommodation Times - - Real Estate Investments -

Su­pertech a re­alty firm an­nounced that it has raised Rs 400 crore from the pri­vate eq­uity firm Xan­der to fi­nance its up­com­ing town­ship and hous­ing pro­jects in Gur­gaon.

The com­pany will de­velop plots, vil­las and in­de­pen­dent homes in the 140-acre town­ship at an in­vest­ment of about Rs 1,100 crore.

"Su­pertech has re­ceived an in­vest­ment of Rs 400 crore ($66 mil­lion) from the Sin­ga­pore­based real es­tate in­vest­ment arm of The Xan­der Group Inc," the com­pany said in a state­ment.

The in­vest­ment has been made in town­ship and group hous­ing pro­jects in Gur­gaon, it added.

When con­tacted, Su­pertech Direc­tor Mo­hit Arora said the com­pany has off­loaded al­most 50% stake in town­ship to Xan­der group.

The com­pany would de­velop over 1,200 plots/low-rise in­de­pen­dent homes and 300 vil­las in the town­ship to be launched shortly.

Com­ment­ing on the devel­op­ment, Ro­han Sikri, Part­ner at Xan­der In­vest­ment Man­age­ment, Sin­ga­pore, said: "We con­tinue to see the Na­tional Cap­i­tal Re­gion as an im­por­tant mar­ket for us in In­dia, and the re­la­tion­ship with Su­pertech re­in­forces our in­vest­ment ap­petite for end user fo­cused res­i­den­tial pro­jects with qual­ity part­ners."

With pro­jects worth more than Rs 18,000 crores in hand, Su­pertech has over 90 mil­lion sq ft space un­der con­struc­tion. It has pres­ence in Noida, Greater Noida, Gur­gaon, Ghazi­abad, Meerut, Mo­rad­abad, Harid­war, Ru­dra­pur and Ban­ga­lore.

The Xan­der Group Inc is a global in­vest­ment firm fo­cused on the in­fra­struc­ture, hospi­tal­ity, re­tail and real es­tate mar­kets. Since 2005, the firm has com­mit­ted over $2 bil­lion of cap­i­tal to the In­dian mar­ket across pri­vate, public and credit in­vest­ments.

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