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Supertech gets ₹430 cr from Altico Capital
NEWDELHI: Realty firm Supertech has raised ₹430 crore from Altico Capital to fund its ongoing housing project in Noida and repay debt. In September, Supertech had raised ₹350 crore from L&T Finance to complete its ‘Eco-village 1’ housing project, with 7,500 units, in Noida Extension.
This is the first investment by Altico Capital in Supertech.
“Altico Capital has invested ₹430 crore in a Noida project by Supertech group,” the two companies said in a joint statement.
Altico Capital CEO Sanjay Grewal said the company has partnered Supertech group, which is one of the largest real estate developers in NCR.
Grewal said the investment is for Supertech’s Capetown project in Sector-74, Noida, which includes ORB and Capeluxe Towers. A part of this funding would be utilised for refinancing an existing lender.
Supertech chairman RK Arora said: “This investment will enable us to deliver our projects in Sector 74 Noida, with an aim to deliver ORB in 18-24 months.”