M3M Ramps up Business Plans, Aims Rs 3,000 cr Investment

M3M, one of India's leading real estate companies specializing in ultra-luxury and premium residential and commercial segments, has decided to go hammer and tong with its business plans, ramping up the progress of its 7 mega projects, and planning to infuse a mammoth Rs 3000 crore in the construction process. Upon completion, these projects will deliver more than 11 million square feet of residential, commercial, shopping and hospitality spaces. L&T, Shapoorji & Pallonji have been contracted to ensure quality and timely completion.

M3M decided to firm up its business endeavours at a time when the entire sector remains in the cusp of an economic slowdown and most players struggling with their piled-up inventory.

With the lowest debt to equity ratio in the real estate industry, the company plans to go blitzkrieg with its projects, pushing its construction works to commission its flagship projects like Golf Estate, Polo Suites and Merlin and Woodshire well before envisaged time.

Dr. Kunal Banerji, Chief Operating Officer, M3M, on this account, said, "Our financial position and capital strength have enabled us to push ourselves at a time when the overall sector is seeing a slowdown. Our abilities enable us to perform even in difficult times. This shows M3M's stellar calibre. The fact that our total inventory is worth Rs 30,000 crore shows how well we are poised and comfortably positioned."

With 7 projects in the kitty and 32 more projects ready for launch, M3M is now looking to diversify its portfolio with audacious and innovative formats in commercial, office and hospitality spaces. Dusit D2, the hospitality venture, stands testament to its potential as a behemoth in the real estate industry.

Source : Equity Bulls

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