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Kumar Urban to invest Rs 250 crore on shopping complexes in Pune

"We will be developing 6-7 shopping complexes in Pune comprising 450 shops", Kumar Urban Development MD Lalit Jain said.

PTI|
Updated: Aug 02, 2012, 06.11 PM IST
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NEW DELHI: Realty firm Kumar Urban Development today said it will invest Rs 250 core to construct shopping complexes in Pune.

"We will be developing 6-7 shopping complexes in Pune comprising 450 shops. The construction would start soon and be completed in the next 18 months," Kumar Urban Development Managing Director Lalit Jain said.

The Pune-based developer would sell these shops. The size of shops starts from 300 sq ft onwards.

Asked about project cost, Jain said "the total investment to develop these complex would be Rs 250 crore to be funded through internal accruals and debt."

These shopping complexes are part of the existing or upcoming residential projects.

Kumar Urban Development currently has 14 ongoing projects with estimated saleable area of 3.42 million sq ft.

In addition, the company has 50 forthcoming projects with an estimated 64.14 million sq ft of saleable area.

It has presence in Mumbai, Bangalore, Hyderabad, Panchgani and Nagpur.
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