The Hindu Business Line : Mantri Developers to re-enter Pune with realty projects

Mantri Developers, who have their presence in Bangalore, Hyderabad, Chennai and Goa, are now re-entering Pune with projects in the commercial and residential segment.

Talking to presspersons, Mr Sushil Mantri, Chairman and Managing Director, Mantri Developers, said it would be entering the Pune market again with high rise buildings and IT park.

The company is all set to raise two high-rise buildings in Hinjewadi, catering to the high-end segment and would have about 120 apartments, he said.

The project cost of these two high rise buildings would be Rs 100 crore each, Mr Mantri said.

He noted that the first project would be launched in December and the second in January 2009. He added that the price would be close to Rs 1 crore.

Mr Mantri said that these projects were mainly targeting the customers from the IT and automobile segment.

He noted that 62 per cent of its sales came in from referral customers and also has in place a Mantri Privilege loyalty programme.

He added that the company is also constructing the ‘Business @ Mantri’ a techpark in Nagar main road, spread across 15 acres with a total built up area of 1.6 million sq. ft. He said the first phase would offer BPOs, biotech enterprises, software development companies and corporate offices an area of about 4.5 lakh sq. ft with an 80 per cent efficiency and over 500 car parking space.

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