In a bid to divest non-core assets to cut debt and complete ongoing projects, realty firm Parsvnath Developers has sold 140 acre land at Sohna, Gurgaon, to Supertech for Rs 665 crore. Of 140 acre, 100 acre is licensed and the approval for 40 acres is expected shortly.
Following this deal, Kotak Realty Fund has exited this township project. It had invested Rs 110 crore in the project in 2012. At present, Parsvnath has a debt of about Rs 1,200 crore, which will come down after this deal.
Parsvnath Developers has diversified portfolio, which includes, integrated townships, group housing, commercial complexes, hotels, IT parks, among others. The company has total developable area of over 195.82 million square feet across all real estate verticals.
Company Name | CMP |
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Dilip Buildcon | 472.00 |
Macrotech Developers | 1169.00 |
NBCC (India) | 133.65 |
Prestige EstatesProj | 1556.20 |
DLF | 884.60 |
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