Kolkata Based Developer ‘Eden Group’ Plans 7-8 New Projects at an Investment of Rs 250cr

Published: May 5, 2011

Eden Group, one of the leading real estate developers from Kolkata, is planning to launch 7-8 new projects within the next one year with a total developable area of over 1 million square feet. All these projects will be launched in and around Kolkata with a total investment of Rs 250 crore, including the land cost. The funds will be raised through internal accruals only. The new developments will be a mix of residential and retail. At least two projects will be launched every quarter, with the first project coming up in June. In all, the group is planning to develop 1,000 units in the next one year.

Talking about the Group’s growth plans, Krishna Modi, director – marketing & legal, Eden Group, informed, “In a span of one year, we plan to launch at least 7-8 projects in and around Kolkata. Of this at least 95 per cent of the development will be residential, while the remaining will be retail. The overall estimated cost of investment will be to the tune of Rs 250 crore, which will be raised through internal accruals only since we are a completely debt-free company.” The new projects will mainly cater to the affordable segment in the price range between Rs 15-30 lakh.

“Most of our residential projects will comprise units in the affordable segment, priced between Rs 15-30 lakh. About 90 per cent of our projects will be in this price range while remaining will be in the upper price segment, which is yet to be decided,” Modi added.

The Group has about 23 projects under construction with a total of 1.5-2 million sq ft of developable area. Total value of these projects is estimated at Rs 300 crore. Eden Group currently has a land bank of almost 100 acres in and around Kolkata and Asansol. It is also in the process of getting the plan sanctioned in Asansol, which will take another two years.

The company clocked in a turnover of Rs 150 crore in last fiscal, while they are expecting a growth of almost 50 per cent in the new fiscal. Moreover, in their tea business the company “is looking to increase production since the tea market is growing very favourably,” added Modi.

Source: Indian Realty News

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1 Comment so far

  1. Deb May 23, 2011 3:51 pm

    please intimate me the location of your projects.

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