Earth Infra Plans To Invest Rs 1,000 Cr In Three Projects By 2013

Earth Infrastructure declared that it will make an investment of Rs 1,000 crore by 2013 with the intention to set up three projects in the National Capital Region.

The real estate firm has introduced two housing projects in Gurgaon, Haryana and Greater Noida, Uttar Pradesh which comprises around 900 apartments in addition to one office complex in Greater Noida.

Earth Infrastructure Joint Managing Director Vikas Gupta stated, "This year, we are going to launch a number of projects. In the first phase, we are launching three projects in NCR... The total investment in these projects will be around Rs 1,000 crore by 2013."


The company said that the investment will be financed via internal accruals and advances from clients.

Elaborating on the upcoming projects, Mr. Gupta stated, "We will develop a premium housing project, Earth Copia, at an investment of Rs 400 crore in Gurgaon. It will have about 500 flats with a starting price of Rs 70 lakh."

In Greater Noida, Earth Infrastructure will build 400 studio apartments with an investment of Rs 100 crore.

As per reports, the company will sell these studio apartments for approximately Rs 16 lakh each.

"In the same complex in Greater Noida, we will also build an office complex, spread over 1.5 million sq ft. The cost of the development will be Rs 500 crore," Mr. Gupta said.

At present, the Delhi-based developer is carrying out different projects valued at Rs 3,000 crore.

While speaking about its upcoming plans, Mr. Gupta stated that the company is eyeing to lift up funds via an IPO in 2014.

Mr. Gupta also said that the company is eyeing to set up a financial firm within the next 12 months to provide home loans to its clients.

About Earth Infra:

Earth Infra is an independent infrastructure provider with committed customer base. Backed by a group of dynamic investors from India and Europe. An Earth infrastructure is one of India's most well capitalized real estate companies. Strong financial support and engineering expertise makes us a quality infrastructure provider with global presence. Earth infra is an India first Green Building Developer.