Supertech repaid 70 crore loans to Indiabulls group

Vastavam web: Realty firm Supertech has repaid Rs 70 crore loans to Indiabulls group using funds it had raised from Altico Capital last week.The Noida-based developer had raised Rs 430 crore from Altico Capital last week.According to sources, Supertech has repaid Rs 70 crore loan to Indiabulls.Supertech Capetown is one of the largest group housing projects of NCR with 8,000 residential units.

This project is an advanced stage project totalling around 11 million sq ft, of which around 5.5 million sq ft has been delivered and possession has been handed over for over 4,300 units.Supertech is focusing on delivery of projects and has handed over more than 22,000 homes in the last 3 years. It is working towards achieving delivery target of 10,000 homes this fiscal.Its sales bookings fell to about Rs 1,500 crore last fiscal from around Rs 3,000 crore in the previous year. But the company expects sales to improve this fiscal.