M3M India Acquires Land for Rs 350 crore and launches M3M Capital

M3M India has purchased a 30-acre plot land in Gurgaon for Rs 350 crore. The IREO Group sold the plot to the Realty developer, who is currently under investigation by the Enforcement Directorate for money laundering.

"Under the Deen Dayal Jan Awas Yojana, we will invest additional Rs 1,000 crore to construct 2,000 independent floors," says Pankaj Bansal, director of M3M India. This effort will be coming up this fiscal year. Internal accruals and Sales receivables would also be utilised to assist the development, according to the statement.

The property is located on Golf Course Road in Sector 113 Gurgaon, one of India's most affluent neighbourhoods.

 

M3M Capital, Sector-113 Gurgaon

M3M Capital is a private equity firm based in New York.  One of the most appealing aspects of living in M3M Capital's high-rise sector 113 Gurgaon is that the 1100 luxury apartments are open on three sides. Also provides ample ventilation.

 

In Q4 of FY 2020-21, the group paid Rs 418 crore in loans. And also plans to reduce the debt by another 500 crores in FY 22.

"M3M India has produced 10 important residential and commercial projects in the previous six months," says Pankaj Bansal. M3M India is also making strenuous efforts to reduce debt burdens.

M3M India has completed projects of Rs 749 crore and has residential and commercial projects worth Rs 1450 crores and Rs 835 crores under construction.

Pankaj Bansal remarked, "M3M India has identified purchasers' requirement for low-rise residential spaces that address their aspirational lifestyle."

The Company has completed projects of Rs 749 crore. It has residential and commercial projects worth Rs 1450 crores and Rs 835 crores under construction.

M3M already has over 2,200 acres of property in the NCR. Also now working on 25 million square feet of projects worth Rs 4,500 crore.

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