Emami infuses Rs.350-cr in realty project

The Emami Group has recently entered into partnership with realty developer Sheth Corp to develop a premium residential project on a 7-acre land parcel in Mulund suburb of Mumbai and has recently infused Rs.350-cr in their 50% partnership project. The latest is the Sheth Corp and Emami Group's third project together as both the companies have already developed a project jointly in Mumbai's Prabhadevi locality and are developing another project in Kanjurmarg suburb of Mumbai. The land parcel for this project, Montana, is located on the arterial LBS Road in Mulund and the project is expected to generate total 1.5 mln sq.ft of saleable area housing apartments of 2, 3, 4 & 5 bedroom configurations in various sizes, Chairman & Managing Director, Ashwin Sheth said. While Joint Chairman, Emami Group, R.S. Agarwal said that the Sheth Corp will be responsible for the project's construction, marketing and sales, while Emami Group will be a financial partner in the project.

Published: 25 March 2017