September 15, 2008

Chintels India Ltd. is going to invest Rs. 18 billion in New Delhi

Famous Indian real estate firm, Chintels India Ltd. is planning to invest Rs. 18 billion in the next six years in Northern India. The company is aiming to earn Rs. 4 billion in revenue in that time period. Prashant Solomon, joint managing director, Chintels India Ltd. said:

"Seeing the potential in North India, we have decided to invest up to Rs 1,800 crore in the next six years, which will be put in residential, office, retail and SEZ projects,"

In New Delhi, the company is going to develop five commercial projects and few farm houses covering more 31 acres in the National Capital Region (NCR). The five commercial properties comprise of 3.9 million sq. ft. and the entire construction will finish within next 5/6 years.

The five commercial projects would cost Rs.9.15 billion. The money would be funded through equity and a debt ratio of 2:3.

Related article:

The Times of India