M3M plans to infuse Rs 3000 cr investment

Realty major M3M has decided to go hammer and tong with its business plans, ramping up the progress of its 7 mega projects, and planning to infuse a mammoth Rs 3000 crore in the construction process, said a company release here.

Upon completion, the release said, these projects will deliver more than 11 million square feet of residential, commercial, shopping and hospitality spaces. L&T, Shapoorji & Pallonji have been contracted to ensure quality and timely completion.

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. Our abilities enable us to perform even in difficult times. This shows M3M’s stellar calibre. The fact that our total inventory is worth Rs 30,000 crore shows how well we are poised and comfortably positioned.”

With 7 projects in the kitty and 32 more projects ready for launch, M3M is now looking to diversify its portfolio with audacious and innovative formats in commercial, office and hospitality spaces.

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.