New Delhi, Mar 7 (PTI) Piramal group’s real estate firm Piramal Realty will invest Rs 1,800 crore to develop a new project in Mumbai. Also Read - Preity Zinta In Her New Workout Video Shows How She Kept Herself Sane During Quarantine
The 8-acre project, Piramal Revanta, is located at Mulund. Also Read - Dubai Suspends All Air India Express Flights For 15 Days For Allegedly Ferrying Covid-19 Positive Flyers Twice
“The ultra-modern towers, billed to be up to 60 storeys, will become the next referral point in Mumbai’s skyline. Sales for over 200 units of Piramal Revanta are open from March 11, 2017,” the company said in a statement. Also Read - Monsoon Session Day 2: Lok Sabha Passes Essential Commodities Bill to Raise Farmer Income, Boost Agri Sector | Highlights
Piramal Realty has pegged its investment for this project at “approximately Rs 1,800 crore, including land, and project development & execution costs.”
The company has awarded the construction for the project to Eversendai, a leading global organisation in undertaking turnkey contracts, delivering high-rise buildings, and infrastructure across the Asian and Middle Eastern regions.
Eversendai is best known for its work on Dubai’s Burj Khalifa, Malaysia’s Petronas Towers, and Qatar s Olympic stadium.
Piramal Realty has procured the Commencement Certificate (CC) for this project and excavation of the site is complete.
Global investment firms Goldman Sachs and Warburg Pincus have recently invested about USD 434 million in the company at the entity-level.
Piramal Group is one of India’s leading conglomerates with interests in pharmaceuticals, financial services, information management, glass packaging and real estate.
This is published unedited from the PTI feed.