In a significant development for the real estate sector, Century Real Estate announced on Monday that it has successfully raised Rs 450 crore from Edelweiss to fuel its upcoming projects in Bengaluru. The company revealed that this funding infusion is aimed at accelerating the development of several key projects, with a primary focus on a luxurious venture situated in the heart of Bengaluru.
According to a statement released by Century Real Estate, the investment marks a pivotal moment for the company's growth trajectory. The infusion of capital from Edelweiss comes at a strategic juncture as Century Real Estate continues to expand its footprint in Bengaluru's dynamic real estate market.
Highlighting the significance of this funding, the company emphasized that a portion of the raised capital will also be allocated towards Century Trails and Century Wintersun Phase II projects. This move underscores Century Real Estate's unwavering commitment to delivering innovative and high-quality residential spaces to its clientele.
The announcement comes on the heels of robust performance showcased by Century Real Estate, with sales bookings soaring to Rs 1,000 crore in the fiscal year 2023-24. This achievement signifies an impressive four-fold growth within a span of just four years, reflecting the company's resilience and market appeal.
Established in 1973, Century Real Estate Holdings Private Limited boasts an extensive land bank exceeding 3,000 acres, translating to a staggering asset value of over USD 4 billion. With a development portfolio spanning more than 200 lakh square feet across South India, the company stands as a formidable player in the real estate landscape.
Currently, Century Real Estate has over 200 lakh square feet of residential and commercial projects in various stages of planning and development, further solidifying its position as a key contributor to Bengaluru's real estate sector
© 2023 Rera News. All rights reserved.