Supertech eyeing Rs 1,000 Cr receivables from customers
(3 months ago)
New Delhi , Feb 13 : North India's leading real estate group Supertech is eyeing receivables of Rs 1,000 crore from its customers for delivering about 17,000 units by end of December 2018.
The company will be fully utilising the Rs 1,000 crore receivables for paying its debt and for completing the projects.
It will deliver projects both in the category of affordable and mid residential segment.
Supertech has 40 projects located across India wherein it sets to deliver projects like Supernova, Upcountry, Golf country, Capetown, The Romano, Eco Village I, II and III, Hues and Meerut Sports City and Green Village in Meerut.
"We have fast tracked our operations and are determined to deliver all our projects on time. The Rs 1,000 crore receivables from the buyers will be further utilised to repay our debt and remaining for the completion of projects. We have well-maintained escrow accounts for all projects and are committed to comply with RERA norms," said chairman, Supertech Limited, R.K Arora.
"We are working on asset monetisation like our five star hotels and malls in tier-II cities. This will help us to create further liquidity," Arora added.
All the projects of Supertech are RERA registered and the company regularly updates its completion status on the website.