M3M India to invest Rs 7,600 crore in 10 under-construction projects

M3M has committed an investment of Rs 7,500 crore in Uttar Pradesh during the UP Global Investors Summit 2023. Image for representational purpose

Real estate developer M3M India will invest Rs 7,600 crore in about 10 under-construction projects in NCR, comprising 20 million square feet of space, the firm said in a statement.

The company claimed that it has recorded highest ever sales of Rs 13,000 crore in financial year 2022-23, which are up by 113 percent year-on-year. In FY’23, the company spent Rs 960 crore as construction cost on its delivered projects, a statement from M3M India said on April 17.

“M3M has an ambitious plan lined-up in the FY’24 with launching of combination of about 8- 10 ultra-luxury residential and commercial projects in Gurugram, Noida and Panipat, with overall saleable space of about 14-15 million square feet. The Company is looking forward to a topline of about Rs 20,000 crore through these projects” said Pankaj Bansal of M3M India.

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M3M has committed an investment of Rs 7,500 crore in Uttar Pradesh during the UP Global Investors Summit 2023. The company has already declared Rs 3,300 crore investment in the state. The projects lined-up for launch include – residential and commercial projects in Noida and Gurugram and plotted development in Panipat.