Construction major Leighton has acquired a Rs 500 crore contract to develop realty firm Vipul Ltd’s luxury housing project in Gurugram.
Vipul Ltd is developing 370 units, comprising 1 million sq ft of built up area, in the first phase of this 20-acre project.
Speaking to reporters, Vipul Managing Director Punit Beriwala, said, “We have awarded a Rs 500 crore contract to Leighton India to construct the first phase of our new project ‘Aarohan’.”
He said the construction cost will be funded through internal accruals and loans from PNB Housing. The company has already sold about 30 per cent area of the first project.
Image credit : masterbuilder.co.in