Bhumika Group Wins Metro-Mall Project in Faridabad

New Delhi, Nov 29 (PTI) Realty firm Bhumika Group on Wednesday said it has bagged a project from Delhi Metro Rail Corporation (DMRC) to develop a mall at NHPC metro station in Faridabad.

In a statement, the company said it has forayed into the metro mall segment with the recent award of the Letter of Acceptance (LOA) for the NHPC Metro Station project from the DMRC.

The company, however, has not disclosed the financial details of the order.

The NHPC metro station project at Mathura Road is Bhumika Group's second venture in Faridabad.

Uddhav Poddar, Managing Director of Bhumika Group said, “We feel that Faridabad is the new growth corridor, and Mathura Road, in particular, is emerging as a pivotal hub for retail development in the NCR, capturing the attention of top retailers and renowned restaurateurs."

In August, Bhumika Group had announced it would invest Rs 600 crore to develop a high-street retail project in Faridabad as part of its expansion plan.

The company entered into a joint development agreement with a local real estate firm Amolik group which owns 5 acres of land parcel in Faridabad. It will develop 5.5 lakh square feet of high-street retail on this land parcel over the next four years.

Bhumika has already completed the first phase of its retail project in Udaipur, Rajasthan comprising 10 lakh square feet area and is constructing another 8 lakh square feet space.