Email : Customer Care No : +91 92054 88718
Facebook Twitter Linkedin
Alpha Corp to invest up to Rs 2,000 crore in Mumbai property market in 4-6 years

The Economic Times

MUMBAI: Realty developer Alpha Corp is looking to invest up to Rs 2,000 crore in Mumbai property market over the next 4-6 years, said a top company official. The investment will be combination of alliances, outright purchases of projects and land parcels.
"We are looking at various models including joint ventures and joint developments for our Mumbai market foray. Buying land is not preferred option, but we are open to that as well," Ashish Sarin, CEO, Alpha Corp. told ET.
"We are also in talks with private equity firms to support our ventures here in Mumbai."
To finance the plan, Alpha Corp may also consider leveraging its balance sheet, he added. The company will also be looking at acquiring distressed assets in this market.
Last year, global equity major Blackstone Group had acquired two malls in Amritsar and Ahmadabad from Alpha Corp.
Currently, the company is in talks to pick up two residential and a commercial project in the financial capital of the country.
"One of the projects has approvals in place. However, construction work has not started on this project so far. Smaller size project developers have also reached out to us for selling their project on outright basis," Sarin said.
Alpha Corp is also planning to invest around Rs 700 crore in the Delhi-National Capital Region though acquisition of distressed real estate assets.

Enquire Now

captchaNew reload
Letters are case sensitive