Century Real Estate Secures Rs. 450 Crore Investment From Edelweiss
Century Real Estate, an integrated, full-service real estate development company based out of Bengaluru, has successfully closed a funding round with Edelweiss, securing Rs. 450 crore in investment capital. Signifying a robust growth trajectory, the company has further announced a sales revenue milestone of Rs.1000 crore in FY 2023/24 registering 4x growth in a span of 4 years. This achievement underscores the company's strong momentum, which has led to this funding from Edelweiss Group, who earlier had invested with the group in the year 2015 indicating a growing partnership with marquee financial institutions aimed at more progress and development. The infusion of Rs. 450 crore will primarily be allocated towards the development of a new luxury project in the heart of Bengaluru. A part of the funds will also be used towards Century Trails and Century Wintersun Phase II, underlining the company’s commitment to delivering innovative and high-quality residential spaces. Century, further has unlocked a 72-acre land parcel in northern Bengaluru aimed at developing a residential project in the vicinity of the international airport at Devanahalli. Revealing the company’s optimistic growth, Ravindra Pai, the Managing Director at Century Real Estate, said, “It is humbling to see the confidence our partners and customers have bestowed on us that has led us to becoming one of the leading trusted real estate developers of Bengaluru. We are very positive that FY 24/25 will be the biggest ever year as yet for the company, as we look forward to developing multiple luxury & aspirational projects across very prime locations in Bengaluru.” “The multi-fold growth in our sales revenues over the past few years, and the wonderful response we’ve been getting for our projects, has been very encouraging for the company. Our commitment to innovation and Thinking Ahead at Century, leads us to create new-age products that exceed expectations and resonate with customers of today. With our new launches seeing some of the fastest sellouts in the industry and a minimal inventory overhang of under 5% across our projects now, we are encouraged to bring in many of our very prime land parcels into the market this year.” - Maninder Chhabra, Director, Sales, Marketing, & CRM. Century Real Estate has completed more than 10 mn sft of residential, commercial and plotted projects across Bengaluru, and over 20 mn of residential & commercial projects are currently under various stages of planning & development.
Tags : Century Real Estate Ravindra Pai Maninder Chhabra residential commercial plotted projects Century Wintersun Edelweiss Group