Bengaluru: Bengaluru-headquartered Century Real Estate has secured a funding of Rs 450 crore from financial services provider Edelweiss, the company said in a statement on Monday.
The real estate developer has also breached the Rs 1,000-crore milestone in sales revenue during the financial year 2023-24, as per the statement.
“We are very positive that FY 24/25 will be the biggest ever year as yet for the company, as we look forward to developing multiple luxury and aspirational projects across very prime locations in Bengaluru,” company managing director Ravindra Pai said.
The Rs 450-crore fund will primarily be used to develop a luxury residential project in Indiranagar, the company said. A part of it will also be diverted towards existing projects Century Trails and Century Wintersun Phase II.
Lastly, the brand has acquired a 72-acre land parcel in north Bengaluru to develop a residential project in the vicinity of the international airport at Devanahalli.
Currently, over 20 million square feet of residential and commercial projects are under various stages of planning and development, the company said.
Published 22 April 2024, 21:28 IST