Supertech to raise Rs 1.6k cr to complete ongoing projects in NCR

19 Jun 2023 CW Team

Realty firm Supertech Ltd plans to raise around Rs 1,600 crore from institutional investors by July to complete its 18 ongoing housing projects across Delhi-NCR, its Chairman RK Arora said. The company has signed a term sheet with investors to raise this interim funding, and due diligence is currently undergoing, Arora said, but did not share the name of the investors.

"We recently got a nod from the Supreme Court to arrange for interim funding to complete ongoing projects and hand over the flats to existing customers.

"We plan to raise around Rs 1,600 crore funds. Hopefully, we will be able to raise this amount by the end of July," he told PTI.

Arora said there are 18 ongoing housing projects under Supertech Ltd, comprising around 50,000 apartments. "We need to give possession of 17,000 flats to our existing customers. We intend to hand over these flats over the next two years," he said.

Further, he said that the company needs Rs 3,000 crore to complete the pending work in these ongoing 18 projects.

Real Estate

18 Sep 2025

Smartworks Unveils Largest Mumbai Campus at Intellion Park, Navi Mumbai

Smartworks Coworking Spaces, India’s largest managed office platform by area under management, has launched its largest Mumbai campus with 557,000 sq. ft. at Intellion Park, Navi Mumbai, a Tata Realty development. With this addition, Smartworks’ leased portfolio in Mumbai has crossed 1 million sq. ft. Strategically located on Thane Belapur Road, Intellion Park is set to become Navi Mumbai’s largest IT Park, supported by strong infrastructure and connectivity. The new campus, with LEED Platinum, IFC Edge, and WELL Gold pre-certifications, incorporates solar power, smart automat..

Major Developments Partners with Patrice Evra for Colibri Views Tower

Major Developments has named global football icon Patrice Evra as Project Partner for Colibri Views, its flagship tower at RAK Central. The announcement was made during the RAK Central event celebrating the completion of the district’s core infrastructure, led by H.E. Arch. Abdulla Al Abdouli, CEO of Marjan. Andrei Charapenak, CEO of Major Developments, and Evra unveiled Colibri Views as a development designed to blend business, lifestyle, and leisure. The tower will feature the UAE’s first rooftop Footbot football simulator, an award-winning performance-driven wellness innovation con..

Vascon Engineers Targets Rs 40 billion EPC Orders and Rs 25 billion Realty

Vascon Engineers, a leading EPC and realty player with nearly four decades of experience, has set a target of achieving an EPC order book of Rs 40 billion and real estate projects worth Rs 25 billion by FY27. The company is active across 13 cities, with an EPC business split of 75:25 between government and private clients. Current projects include a Rs 6.06 billion medical college at Suphal, Bihar, Capgemini IT Park in Chennai worth Rs 4.16 billion, and the Rs 2.60 billion Vedanta Township project. “Vascon Engineers’ strength lies in balancing our EPC and real estate businesses a..