Construction Industry News
Century Real Estate Holdings has raised Rs 450 crore through debt financing. The real estate company obtained financing from Edelweiss Alternative Asset Advisors. The purpose of this financing is multi-faceted: approximately 40% of the funds are expected to go towards the acquisition of a 72-acre land located near the international airport in North Bengaluru. This is for a planned residential project. In particular, Century Real Estate owns a large land reserve in this strategic region. The remainder of the capital infusion will be used as working capital for ongoing and future projects, as well as to repay existing debt.
Century Real Estate has a comprehensive portfolio of approximately 20 residential and subdivision projects. projects, with three residential projects and two separate projects currently underway. Anticipating growth, the company aims to double its turnover to Rs 2,000 crore by the end of FY25. Additionally, its projects extend beyond residential developments, with five commercial real estate projects in operation and four more in the pipeline. Among these projects is the cooperation with the Prestige Group to develop a land area of 2.5 million square feet. An office complex in Hebbal area using land owned by Century Company.
