Realty firm Paras Buildtech on Saturday said it is expecting Rs 108 crore in revenue from its new commercial project in Gurugram.

Share Market Live

NSE

The company has launched a new project where it will sell more than 40 plots for the development of SCOs (shops cum offices), according to a statement.

The project 'Paras Arcade 114' is spread over 3.25 acre and has a saleable area of 4,597 square metre. The commercial SCO plots range from 104-143 square feet.

Also Read: Bottomline | What Reliance's new Viacom18 deal spells

Besides providing turnkey infrastructure, Paras Buildtech will facilitate customers in the development of plots as per the approved design and also in the leasing of space to corporates and retailers.

Aman Nagar, joint managing director of Paras Buildtech, said, "We aim to sell 100 percent inventory of Paras Arcade within the next 30-40 days, generating a revenue of Rs 108 crore".

He said the project is located on Dwarka Expressway and is very close to Delhi. There is a good demand for SCO plots in this area, he added. The company will launch more projects in the coming months.

Also Read: Invesco likely to sell over 5 percent stake in Zee Entertainment via block deals

Paras Buildtech is, currently, developing a commercial project in Noida Sector 129, comprising a 5 lakh square feet area. Paras Buildtech has already delivered around 15 housing and commercial estate projects, with a 15 million sq feet area, primarily in Delhi-NCR.

First Published:Apr 15, 2023 12:40 PM IST