Anant Raj Industries, an infrastructure development and construction firm that focuses on the National Capital Region (NCR), has entered into a joint venture with Monsoon Capital, a US-based fund for Rs 370-crore project in Panchkula, Haryana.
Amit Sarin, director, Anant Raj, told DNA Money, “We have formed a JV for a project in Panchkula, with 1.8 million sq ft development.” The firm will take possession of the plot this week and expects the project to be completed in 18 months.
He said, “The total investment in this project is going to be Rs 370 crore in terms of costs. We will lease it out after the completion.”
The company with land bank of 980 acre said it plans to construct 77 million sq ft of space, of which 75% would be commercial IT parks, SEZs, hospitality etc. Its 90% of land bank is situated within 50 km of Delhi, while 525 acre is within Delhi.
The firm has its own construction arm with 700 employees and a capacity to deliver 7 million sq ft of construction every year. Sarin said, “We plan to take the 7 million to 10 million sq ft, and once we achieve it, we can look to serve other firms as well, probably by end of next year.”
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