The real estate company M3M would invest Rs. 3,000 crore to complete its seven mega projects which are under various stages of implementation. Upon completion, these projects would deliver more than 11 million square feet of residential, commercial, shopping and hospitality spaces. The company has awarded the civil contracts to L&T, Shapoorji & Pallonji.
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, said, “Our financial position and capital strength have enabled us to push ourselves at a time when the overall sector is seeing a slowdown.”
With seven projects in hand and 32 more projects ready for launch, the company is 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.