Arihant Superstructures gets Rs 250 crores HDFC finance
Realty developer Arihant Superstructures, through its subsidiary Arihant Abode, has received a sanction of construction finance worth Rs 250 crore from the Housing Development Finance Corporation. The funds are being raised for the company’s flagship housing project Arihant Aspire in…

Realty developer Arihant Superstructures, through its subsidiary Arihant Abode, has received a sanction of construction finance worth Rs 250 crore from the Housing Development Finance Corporation.

The funds are being raised for the company’s flagship housing project Arihant Aspire in Panvel near Mumbai, the company said in a regulatory filing.

The project spread over 16.5 acres has total 3.1 million sq ft of saleable area under development, ET Realty reported.

“We have been able to reduce our secured debt in the last one year with prudent cash flow management,” said Ashok Chhajer, CMD of Arihant Superstructures.

“A number of our projects have reached maturity levels, throwing up positive cash flows, which are utilized to reduce project-specific debt. The funding for the new projects would be a judicious blend of various instruments in the best interests of our stakeholders,” he said.

(ends)

Related Articles

Related

Document Management in a Digital Document Repository

A VDR is a online document database that helps firms and companies to maintain, organize, and protect their particular documents. The primary purpose of a VDR is to keep hypersensitive data secured from unauthorized copying. It gives you secure safe-keeping for files,...

read more

Must Have List Of million-euros Networks

JOIN OUR CLUB Readers may also be interested in these Origins articles on sports: the Politics of the Olympics and the 1994 Fifa World Cup in the U. Hear the one about the bad tempered golfer who bought a new set of TaylorMade R7 clubs. We developed this approach in a...

read more

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Share This