Excel Infra Construction on Monday announced an investment of Rs 2.52 billion to develop a luxury residential project at Bandra Reclamation in Mumbai. The project, named ‘Bellissima’, will comprise a 33-storey high-rise housing 96 residential units.

The company stated that the funding for the project will be arranged through a combination of equity and Alternative Investment Fund (AIF), structured as non-convertible debentures (NCDs).

The apartments in Bellissima are priced at Rs 51,500 per square foot, and the developer expects to generate revenue of Rs 4 billion from the project.

“With a well-structured investment and the adoption of advanced construction technology, we are confident of delivering the project well ahead of schedule,” said Virendra Vora, Promoter and Managing Partner at Excel Infra Construction.