Saya Group raises Rs 200 cr from Edelweiss

Realty firm Saya Group has raised Rs. 200 crore from leading financial services group Edelweiss to finance its group housing project ‘Saya Homes’.

The Group is developing multiple housing projects in the NCR region with prime focus on Indirapuram and Noida/Greater Noida West.

Manoj Jain, Director-Finance of Saya Group, said, “We have received an investment of Rs 200 crore from Edelweiss for our projects. We were in talks with Edelweiss for some time now and the fund has finally been raised which will ensure quality products from Saya Group”.

Vikas Bhasin, MD of Saya Group, commented, “Our organisation is developing over 24 lakh sq ft in Indirapuram and approx 11 lakh sqft in Greater Noida West. We have already delivered approximately 10 lakh sq ft in Indirapuram in our two projects. With this new development, we are looking forward for a brighter future”.

According to a press release issued by the company, the Saya Group will not raise any more funds as the financial closures are over for the current projects. The Group is now focusing on execution of current projects in order to ensure timely delivery of its under-construction projects.

The release said with such funding, people will have faith in projects being developed in this part of the region which otherwise has been undergoing a lot of turmoil.