JPIL to invest Rs 250 crore in in Vadodara
Vadodara: Ahmedabad-based real estate developer J P Iscon (JPIL) will invest Rs 250 crore in four housing projects in Vadodara, a top official said on Friday.
"JPIL has put up four projects spread over 1.65 million square feet area of 900 apartments and 1.68 lakh square feet space for 81 offices," company managing director Jateen Gupta told reporters here today.
Gupta said JP Iscon's projects offer facilities galore like air-conditioned entertainment lounge, swimming pool, sauna, spa, business centre, indoor games area, medicare centre, library, convenience store, among others.
Having launched one of the biggest high-end residential projects in Gujarat, JP Iscon is now looking to expand further in the premium residential category, he said.
Gupta ruled out any plans to bring an initial public offer (IPO) saying that the company can raise required funds on its own.
The company has launched Iscon Platinum, a premium residential project comprising 12 towers with options of 3, 4 and 5 BHK homes.
Currently, of the total 12 ongoing projects of JP Iscon, about 10 are residential projects, most of which are in the high-end segment.
Over the last one year, the company has developed over 35 lakh square feet residential, corporate, commercial and retail space across Gujarat, JIPL executive director Ameet Gupta.