Century Real Estate has raised Rs 450 crore from Edelweiss to develop new luxury projects in Bengaluru, including Century Trails and Century Wintersun Phase II. The funding will also be used to expand the company's land bank, which currently exceeds 3,000 acres.
New Delhi, Apr 22 (PTI) Century Real Estate on Monday said it has raised Rs 450 crore from Edelweiss to develop realty projects in Bengaluru.
In a statement, the company said it has "successfully closed a funding round with Edelweiss, securing Rs 450 crore in investment capital."
Century Real Estate said its sales bookings stood at Rs 1,000 crore in the 2023-24 fiscal, registering 4x growth in a span of 4 years.
"The infusion of Rs 450 crore will primarily be allocated towards the development of a new luxury project in the heart of Bengaluru. A part of the funds will also be used towards Century Trails and Century Wintersun Phase II, underlining the company's commitment to delivering innovative and high-quality residential spaces," it said.
Century Real Estate has completed more than 100 lakh square feet of residential, commercial and plotted projects across Bengaluru.
Over 200 lakh square feet of residential and commercial projects are currently under various stages of planning and development.
Founded in 1973, Century Real Estate Holdings Private Limited has a land bank of over 3,000 acres, representing more than USD 4 billion in asset value, and a development portfolio of over 200 lakh square feet across South India.
Rediff.com » Market News » Century Real Estate Secures Rs 450 Crore Funding for Bengaluru Projects
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