By Accommodation Times Bureau
A Noida-based realty firm Supertech is looking to expand its business and has decided to take up stuck projects of other builders.
To develop a housing project in Gurgaon it has tied up with Gurgaon based developer Gold Souk.
Mohit Arora, Managing Director of Supertech said, “There are lot of distressed real estate projects in Delhi-NCR because of slowdown in the property market. We have decided to take up such stuck projects and grow our business.”
The company is in talks with three other local builders to add more projects in its portfolio, he added.
Arora said, “We have entered into development management contract with Gold Souk for a 15-acre housing project in Gurgaon.”
There would be around 400 plotted development having a sales value of Rs 200 crore, he further said.
“We are targeting to add 10 such projects next fiscal,” Arora said.
To complete its ongoing projects, Supertech has recently raised Rs.800 crore from L&T Finance and Altico Capital.