Real estate firm Supertech today said it will invest Rs 4,000 crore for developing 15 realty projects across North India in the next three years, and it is planning to raise capital through a public offer.
"Currently, we are developing 12 residential and three commercial projects across various locations in North India. We have planned to invest Rs 4,000 crore to develop these properties over the next three years," Supertech Chairman and Managing Director R K Arora told PTI.
The residential projects are located across Noida, Meerut, Haridwar and Rudrapur, while the commercial properties will be developed at Haridwar, Rudrapur and Meerut, he added.
When asked if the company would consider raising fund via an initial public offer (IPO), Arora said: "We have started to prepare for an IPO, but the market has not completely come out (from the fall during downturn)."
The company would consider launching the IPO in the next one and half years, he added.
Giving details about its ongoing projects, Arora said the company is developing a luxury residential project in Noida with 750 units, besides constructing a 1,500-unit township at a cost of Rs 500 crore.
The national capital region-based company today launched a 6,000-unit residential project in Noida, envisaging an investment of Rs 1,000 crore.
On its latest project — Eco Village, Arora said: "We will build up to 6,000 units in the project in different phases over the next 30 months and an investment of Rs 1,000 crore is expected to go into it, including the land cost."