M3M India is All Set to Reduce Debt by Rs 500 Crore by FY 2022

M3M India is All Set to Reduce Debt by Rs 500 Crore by FY 2022

M3M India Director, Mr. Pankaj Bansal has said that M3M Gurgaon plans to reduce debt by Rs 500 crore by the end of FY 2022. The company has already repaid loan worth Rs 418 crore in Q4 FY 2020-21 exceeding its target of Rs 400 crore and is confident to clear all the remaining liabilities by March 2022.

Mr. Bansal further said, “In keeping with company’s aggressive growth plan in different segments – residential, commercial and retail, we are looking forward to reduce our debt by nearly Rs 500 crore by the end of FY 2022”.

With M3M’s new project, M3M Solitude, the group has sold inventories worth Rs 1,000 crore.

“The project will have 2 BHK and 3 BHK accommodations, with average sizes of 1100 square feet and 1400 square feet respectively. These units are priced between Rs 70-90 lakhs. The company aims to deliver the project by 2023,” said Mr. Pankaj Bansal.

M3M Solitude project is strategically located at sector 89 at NPR and its close proximity to Dwarka Expressway, CPR and NH8 makes it an ideal destination for prospective buyers to buy their home.

Mr. Bansal said, “M3M India has identified buyers need for low rise residential spaces that address their aspirational lifestyle,”.

With the announcement of Road, Transport, and Highway Union Minister, Mr. Nitin Gadkari regarding the Dwarka Expressway completion by early 2023 has given impetus to NPR. Owing to this announcement, NPR has become the most sought after location of NCR. The credit goes to its large infrastructure development, brilliant road connectivity, and vibrant social infrastructure.

Mr. Pankaj Bansal further says “M3M India has delivered ten key residential and commercial projects in the last 6 months. M3M India is also aggressively working towards reducing the debt liabilities,”.

The leading developer has clocked sales worth Rs 3034 crore that includes under-construction residential sales of Rs 1450 crore, under-construction commercial sales of Rs 835 crore and delivered project sales of Rs 749 crore.

 

Latest Properties

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