Leighton wins Rs.500-cr realty project

The construction company of global repute, Leighton, in a recent cache has bagged Rs.500 crore contract to develop realty firm Vipul Limited's luxury housing project in Gurugram where Vipul will develop 370 units, comprising 1 million sqft of built-up area in the first phase of the 20 acre project, Managing Director, Vipul, Punit Beriwala said, adding that it has awarded contract to construct the first phase of new project 'Aarohan', whereby the construction cost will be funded through internal accruals and loans from PNB Housing. The company has already sold about 30% area of the first project and the construction of the first phase has started and will get completed in 2020. The entire project will be developed in three phases, covering 2.5 million sqft of residential and 0.5 million sqft of commercial space, he said.