New Delhi, April 15, 2015
Realty firm Lancor HoldingsBSE 1.95 % today said it is expecting a turnover of Rs 400 crore from its new housing project in Chennai.
In a filing to the BSE, Chennai-based developer said the company had acquired 6.44 acre of land at Potheri, GST Road from L&T Urban Infrastructure Ltd.
“The company has obtained permission for conversion of wet land and is in the process of launching a residential project, which has the potential of 8,00,000 sq ft of built up area, with an estimated turnover of Rs 400 crores at a margin of 25 per cent,” it added.
When contacted, company’s Chief Executive Officer Mallika Ravi said the land was bought two years ago.
“We will soon launch this project which will have around 700 apartments,” she said, adding that project cost would be around Rs 300 crore.
Lancor Holdings has completed about 50 projects mostly in Chennai with a built up area of 4 million sq ft. It is developing currently 4 projects. It has also developed projects in Bengaluru, Kolkata and Coimbatore.
The company’s scrip closed at Rs 99.10, down 2.51 per cent, on the BSE. PTI
New Delhi, November 14, 2024: In the past decade, urban spaces across the country have…
Gurugram, November 14, 2024: ALBAN, by Pyramid Infratech, is a marquee project located in sector-71, Gurugram.…
As IA continues to move on its expansion spree, it is poised to meet the…
The group Aims to Deliver Quality and Affordable Housing Along Bhiwadi-Alwar Highway New Delhi, November…
Mumbai, November 12, 2024: Build Nivesh LLP (formerly known as 'Labdhi Nivesh LLP'), has announced final…
With 243 units sold over 1.60 lakh sq. ft. carpet area, The Guardians Real Estate…