Supertech has raised Rs 400 crore from private equity firm, The Xander Group, to finance its upcoming township and housing projects in Gurgaon.
The Realty firm will develop over 1,200 plots or low-rise independent homes and 300 villas in the 140 acre township at Gurgaon, with an investment of about Rs 1,100 crore.
The company has raised the funds by offloading almost 50 per cent stake in the township, to Xander Group.
Supertech has projects worth Rs 18,000 crore in hand and has over 90 million sq ft space under construction. It has its presence in Noida, Greater Noida, Gurgaon, Ghaziabad, Meerut, Moradabad, Haridwar, Rudrapur and Bangalore.
The Xander Group is a global investment firm focused on the infrastructure, hospitality, retail and real estate markets and has committed over $ two billion of capital to the Indian market since 2005.
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