To supplement its working capital requirements, Hyderabad-based IVRCL is to raise Rs 1,200 crore and infuse capital into new projects. To facilitate fund-raising, the construction and infrastructure company has enlisted the services of SBI Caps, sources said.
Mumbai and its surrounding areas are getting some lung space finally with a number of builders showcasing new projects for the rich by throwing in features like golf courses and other sports facilities. The financial capital, unlike Delhi-NCR and cities in south India, has no golf course-linked real estate communities due to lack of space and exorbitant land prices.
Realty giant DLF will shift focus to its core housing and commercial ventures and plans to launch up to 15 million square feet of new projects next fiscal. DLF has recently sold its two major non-core assets -- luxury hospitality chain Amanresorts and a prime Mumbai land -- for nearly Rs 4,400 crore. It is in the process of finalising sale of wind energy venture for about Rs 850 crore.