Excel Infra's Bold Investment in Mumbai's Luxury Housing Market

Realty firm Excel Infra Construction announced on Monday an ambitious investment of Rs 250 crore to develop a luxury housing project in Mumbai. Situated at Bandra Reclamation, the project is a high-end residential venture expected to redefine the city's skyline.

The company plans to finance the Rs 252 crore initiative through a mix of equity and an Alternative Investment Fund (ATF) structured as non-convertible debentures. The development comprises a 33-storey tower with 96 luxury apartments marketed as 'Bellissima,' each priced at Rs 51,500 per square foot.

Virendra Vora, Promoter and Managing Partner of Excel Infra, expressed confidence in delivering the project ahead of schedule, leveraging advanced construction technologies. The company, boasting a portfolio of more than 20 projects across Mumbai, anticipates a revenue of Rs 400 crore from this latest venture.

(With inputs from agencies.)