By Pallavii Pitale
Century Real Estate, a Bangalore-based full-service real estate development company recently raised Rs 100 crore through a private placement of non-convertible debentures (NCDs). The company has a land bank of over 3,000 acres worth over $2 billion in asset value, and a development portfolio of over 10 million sq ft comprising hotels, office buildings, residences, educational institutions and integrated townships.
The company now plans to launch seven new projects at various places within the Bangalore city limits. The raised funds shall be utilised for the development of these projects.
Out of these seven projects,Century Paradise on Bannerghatta Rd, Century Marvel at Kempapura, Century Arcadia at Bellary Rd., Century Koruna at Yelahanka new town and Century Constella at Chikkajala are purely residential projects where as Century Square AT Bellary Rd. is a combination of Residential , Commercial and Retail segments and Century prakriti at Devanahalli includes exclusive Villas, an IT SEZ along with Commercial as well as Residential units.
Through these projects, the company would develop a built-up area of 1.7 million sq ft in the next eight months. The estimated cost for the completion of these projects is about 900 Cr.
With the launch of these projects, the Century Real Estate plans to add an inventory of over 1,500 apartments to the existing inventory of 1,200 apartments. The company currently has nine ongoing projects with a total built-up area of 1.2 million sq ft across Bangalore.