Prajay Engineers to open bookings for its premium project, Prajay Celebrity Villas, Hyderabad

Prajay Engineers Syndicate Ltd has informed BSE that its project ´Prajay Celebrity Villas´, in Hyderabad is in advanced stages of development and the Company has decided to open bookings. The delivery of the villas is expected to begin from October this year.

Prajay Celebrity Villas is a premium gated community spread over 18 acres of land with constructed area covering only 2,56,000 square feet. The project houses 85 luxury, premium villas, spread across an area of 18 acres of land, with a total constructed area of only about 2,56,000 square feet. The villas will be available in 3, 4 and 5 bedroom versions, on plots ranging from 528 square yards to 1000 square yards. The built up area ranges from 3200 square feet to about 5000 square feet. Residents will have access to the most modern amenities at Prajay Celebrity Villas and experience the highest standards of building practices.

Prajay Celebrity Villas is set in the picturesque surroundings in Shamirpet, which is about 30 minutes drive from central business district of Hyderabad. The Celebrity Villas is strategically and proximately located. Celebrity Villas is close to the upcoming Biotech Park, the ICICI promoted Knowledge Park. It is also close to the Outer Ring Road, which has been the focal point of the State Government with a numerous projects coming up around it.

Prajay Celebrity Villas involves a capital outlay of approximately Rs 286 million and the Company expects a revenue of Rs 616 mn over the next one year from this. The Company expects an operating profit of Rs 330 million and a net profit of Rs 231 million from the project.

Source : Equity Bulls

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