SRAM & MRAM Group commits $100-mn investment in India realty sector

SRAM & MRAM Group has committed to invest $100 million in real estate projects across India. The company has signed an agreement with Area CAS Developers and Infrastructure Private Limited (Area Group), and Gupta Builders and Promoters Private Limited (GBP Group) who have existing and upcoming real estate projects across major Indian cities. With the latest investments, SRAM & MRAM Group is looking forward to their collaboration with Indian partners. Sailesh Lachu Hiranandani, Chairman, SRAM & MRAM Group informed that the investment would be carried out in a phased manner through SRAM & MRAM Technologies Limited, which is a wholly-owned subsidiary of SRAM & MRAM Technologies & Resources Limited. The company said that $6 million will be invested in GBP Group's CENTRUM project by Area Group and further investment will be made in projects in Gurugram. The real estate market in India has a lot of promise, and its association is a proof that the sector is moving in the right direction in the country. SRAM & MRAM, Area CAS Developers and Infrastructure Private Limited (Area Group), and Gupta Builders and Promoters Private Limited (GBP Group) have merged. SRAM & MRAM are their financial arm, and these three companies will work together to develop group housing, commercial projects, multiplex, townships and hotels in Delhi NCR, Chandigarh, Panchkula, Mohali and New Chandigarh.