SBP Grp To Invest Rs 930 Cr As It Plans Expansion In North India
New Delhi: Realty player SBP Group plans to invest Rs 930 crore in the next 2-3 years as it expands in various North Indian cities and also forays into hospitality sector.
The firm, which has so far been focused on residential projects in Tricity-Chandigarh, Panchkula and Mohali, is coming with projects in Mandi, Solan, Shimla, Ludhiana and Jammu.
SBP Group has recently signed memorandums of understanding (MoUs) with government of Himachal Pradesh for Rs 730 crore investment in the state for various real estate projects.
The firm will build residential projects in Mandi, Solan and Shimla entailing an investment of Rs 630 crore. Another Rs 100 investment will go towards a hotel project in Shimla. The hotel will have 120 rooms.
The company is also entering the Ludhiana realty market with a residential project. The investment in this project will be to the tune of Rs 200 crore. “We have recently signed MoU with the Himachal Pradesh Government for Rs 730 crore worth of project in various cities of the state,” said Aman Singla, MD of SBP Group.
It is also starting two commercial projects in Tricity.
The company has so far delivered 5000 homes spread over 12 projects in Tricity.