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Infrastructure
Piramal venture with Sunteck
Mumbai, Nov 15
Piramal Enterprises Ltd of the Ajay Piramal Group on
Thursday announced a joint venture with Sunteck
Realty and Infrastructure Ltd. The joint venture will
execute its first project- a commercial/IT park of over
one million square feet at Sion, Mumbai. The tie-up also
envisages an investment of Rs 1,000 crore in various
projects during the next 12 months, with focus on highend
realty projects in metros and select tier II cities.
"We plan to create landmarks in the most attractive locations,"
said Mr Ajay Piramal, Chairman, Piramal Enterprises
Ltd. In addition to ultra luxury residential projects,
Piramal Sunteck Realty Pvt Ltd will also develop
commercial projects, mixed-use townships and SEZs.
"We would like to set new benchmarks of quality by
employing top-class professionals and by using worldclass
technology," said Mr Kamal Khetan, Chairman,
Sunteck Realty Ltd. - Our Bureau
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