Supertech Ltd repays Rs 70 Cr loans to Indiabulls group

Supertech logoBy Accommodation Times Bureau

NEW DELHI

The Noida-based developer Supertech has repaid Rs 70 crore loans to Indiabulls group via fund raised from Altico Capital last week.

The realty firm had raised Rs 430 crore from Altico Capital last week, sources said.

According to sources, Supertech has repaid Rs 70 crore loan to Indiabulls.

The leftover amount Rs 360 crore would be used to complete construction of a housing project in Noida.

Altico Capital’s investment is towards the construction of Supertech’s Capetown project in Sector-74, Noida, which includes CapeLuxe Towers and ORB.

With 8,000 residential units, Supertech Capetown is one of the largest housing projects of National Capital Region (NCR).

This project is an advanced stage project totalling around 11 million sq ft, of which around 5.5 million sq ft has been delivered and possession has been handed over to over 4,300 units.

Supertech is working towards achieving a delivery target of 10,000 homes this fiscal. In last 3 years, it has handed over more than 22,000 homes.

For completing its housing project Eco Village in Greater Noida West, which is known as Noida Extension, the company had raised Rs 350 crore from L&T Finance a few months back.

The company has projects in Noida, Greater Noida, Ghaziabad, Meerut Gurugram, Muradabad, Dehradun, Bengaluru, Rudrapur and Haridwar.





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