Excel Infra to Launch ₹252 Crore Luxury Housing Project in Mumbai
Excel Infra Construction, a prominent real estate developer, has announced a significant investment in the luxury housing market of Mumbai. The company is launching a new project at Bandra Reclamation with an investment of ₹252 crore. This move underscores the company's commitment to delivering high-quality residential properties in one of India's most dynamic cities.
The project, named 'Bellissima,' is a 33-storey residential tower comprising 96 units. The apartments are priced at ₹51,500 per square foot, reflecting the premium nature of the development. Excel Infra expects the project to generate revenue of ₹400 crore, highlighting the strong demand for luxury housing in Mumbai.
The funding for the project will be a mix of equity and Alternative Investment Fund (AIF) structured as non-convertible debentures. This financial strategy is designed to ensure the project's timely completion and delivery. Virendra Vora, Promoter and Managing Partner of Excel Infra Construction, expressed confidence in the project's success. 'With a well-structured investment and the adoption of advanced construction technology, we are confident of delivering a project much ahead of the scheduled date of delivery,' he stated.
Excel Infra has a strong track record in the Mumbai real estate market, having developed more than 20 projects across the city. The company's expertise in luxury housing and its commitment to quality and innovation have made it a trusted name in the industry. The 'Bellissima' project is expected to further solidify Excel Infra's position as a leader in the luxury housing sector.
Bandra Reclamation, the location of the 'Bellissima' project, is a prime area in Mumbai known for its upscale residential and commercial developments. The area's strategic location, coupled with its proximity to key business districts and amenities, makes it an attractive choice for luxury homebuyers. Excel Infra's decision to invest in this area reflects its confidence in the long-term growth potential of the Mumbai real estate market.
The 'Bellissima' project is expected to set new benchmarks in luxury living, with features such as state-of-the-art amenities, innovative designs, and sustainable construction practices. The project's launch is a significant milestone for Excel Infra and a testament to its ability to deliver premium residential properties that meet the evolving needs of discerning homebuyers.
In conclusion, Excel Infra's investment in the 'Bellissima' project in Bandra Reclamation is a strategic move that aligns with the company's vision of providing world-class living experiences. The project's expected revenue of ₹400 crore and the company's robust financial and operational strategies position it for success in the competitive Mumbai real estate market.
