Realty firm Parsvnath Developers has announced plans to invest Rs 7,000 crore in the next five years in construction of its ongoing projects. Meanwhile, the company also plans to raise up to Rs 300 crore through private equity by March-end.
"We are currently developing 57 projects, with over 80 million sq ft of area, across the country. Of this, we have put 40 million sq ft on fast track to deliver within the next two years," said Pradeep Jain, chairman, Parsvnath Developers.
Of the total area under construction, about 80 per cent is housing and rest commercial, Jain added.
"Our land is fully-paid and we have to pay only for construction. The construction cost for developing the 80 million sq ft will be about Rs 7,000 crore and these projects will be completed by 2015," said Jain.
Source: Realty Plus Parsvnath earmarks Rs 7,000 crore to develop 57 projects
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