Supertech real estate intends to take up projects by other developers

Supertech real estate, the noted real estate organization is looking to expand its operations and has now confirmed that it will evaluate projects of other real estate developers that are still stuck and will take them up wherever feasible. The Supertech will be collaborating with Gold Souk for building the residential project at Gurgaon and is anticipating revenues of approximately Rs. 200 crore in terms of sales volumes.

Supertech is based in Noida and is also holding discussions with three real estate builders in the city for getting more projects added to its pan-Indian lineup. There are several projects which are currently in a distressed state in the entire Delhi-NCR belt on account of the slump in the real estate market. The company is looking to take up these stalled projects and steadily grow its own business in turn.

Supertech and Gold Souk have already inked the development management contract for the housing project which spreads over a whopping 15 acres in Gurgaon. There will be approximately 400 plotted developments offered at this project and these would be retailed under the Haryana Government’s housing policy according to reports. The company is looking to add around 10 such projects in its portfolio for the upcoming fiscal year. Supertech is currently working on 30 housing projects and 8, 000 housing units will be delivered to buyers in the present fiscal.

Supertech is aiming for revenues of approximately Rs. 2, 000 crore in the current financial year in spite of sluggish real estate demand. Supertech Real Estate recently raised an amount of Rs. 800 crore from L&T Finance and Altico Capital for finishing its on-going projects perfectly. Supertech is currently emphasizing on delivery of its current projects and has aimed at completing 10, 000 apartments annually over a period of 4-5 years.

Supertech Real Estate has already delivered around 20, 000 units over the last three financial years. The company has real estate projects in Greater Noida, Noida, Meerut, Ghaziabad, Moradabad, Gurgaon, Rudrapur, Haridwar, Bangalore and Dehradun.