Century Real Estate gets Rs100-cr through NCDs
By Our Real Estate Bureau
August 31, 2010
Century Real Estate, a Bangalore-based real estate development
company has raised Rs100-crore through a private placement of
non-convertible debentures (NCDs).
The company, which is looking to unveil seven projects, will use
these funds for project development. Through these projects, the
company would develop a built-up area of 1.7 million sq ft in the
next eight months.
Mahesh Prabhu, Director-Finance, Century Real Estate, said,
“With the launch of these projects, the company plans to add
an inventory of over 1,500 apartments to the existing inventory of
1,200 apartments. The company currently has nine ongoing projects
with a total built-up area of 1.2 million sq ft across
Bangalore.
Century Real Estate has a land bank of over 3,000 acres worth over
$2-billion in asset value, and a development portfolio of over 10
million sq ft comprising hotels, office buildings, residences,
educational institutions and integrated townships.