FCC

Century Real Estate gets Rs 4.5 bn from Edelweiss for Bengaluru projects

2024-04-26

Century Real Estate announced that it had secured Rs 4.50 billion from Edelweiss to finance real estate ventures in Bengaluru. According to a statement released by the company, they stated they had "successfully concluded a funding round with Edelweiss, obtaining Rs 4.50 billion in investment capital."

The company reported that its sales bookings had reached Rs 10 billion during the fiscal year 2023-24, indicating a fourfold increase over a period of four years.

"It has been decided that the Rs 4.50 billion injection will primarily be directed towards the establishment of a new luxury project in central Bengaluru. A portion of the funds will also be earmarked for Century Trails and Century Wintersun Phase II, demonstrating the company's dedication to providing innovative and top-quality residential properties," the statement added.

Century Real Estate has finished construction on more than 100 lakh square feet of residential, commercial, and plotted projects throughout Bengaluru. Additionally, over 200 lakh square feet of residential and commercial projects are currently in various stages of planning and development.

Established in 1973, Century Real Estate Holdings possesses a land bank exceeding 3,000 acres, equivalent to more than $ 4 billion in asset value. Furthermore, the company has a development portfolio of over 200 lakh square feet spread across South India.