Realty firm raises over Rs 270 Cr from Piramal for project

By Accommodation Times Bureau


To complete the ongoing project, a Noida based real estate firm Prateek Group has raised Rs 275 crore from Piramal Capital and Housing Finance for Grand City project.

Prashant Tiwari, Chairman, Prateek Group said, “ We have raised Rs 275 crore from Piramal for our Grand City project.”

The firm had launched the project with an around the investment of Rs 5,000 crore. The company would develop 7,000 units in this project in two phases.

Chairman said, 4,500 units have been launched in the first phase and about 3,000 units have already sold.

“This project is near completion. We will soon give exit to Piramal Group in this project by repaying their investments,” he added. The firm in the first phase launched its units at price around Rs 28-63 lakh.

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