M3M to invest Rs 3,000 crore
PTI Jan 14, 2014, 04.23PM IST | Economic Times, NEW DELHI
Realty firm M3M will invest Rs 3,000 crore over three years on the construction of ongoing seven projects in Gurgaon.Gurgaon-based company has outsourced the construction contracts to big companies like L&T, Shapoorji & Pallonji for timely execution of projects. "M3M has decided to ramp up the progress of its 7 mega projects, and planning to infuse a mammoth Rs 3,000 crore in the construction process," the company said in a statement.
M3M has bought 28 acres of land in Gurgaon from the DLF group. The deal size is worth Rs.440 crore. The land is located in sector 70A on Gurgaon Course (Extn)-Southern Peripheral Road (SPR), looking the Aravalis and connecting with the SPR to National Highway-8.
M3M plans to build a premium residential project on the land. The company has budgeted a total investment of Rs.1,100 crore for this project, inclusive of the deal value.
M3M has scripted its market success and built a formidable brand equity within a short time-span owing to a firm commitment to innovation, technology, quality, customer satisfaction and ethical behavior of the highest standards.
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