Hindustan Times Media Limited has acquired a 0.65% stake in the renowned real estate company, Sunil Mantri Realty, for a substantial amount of twenty crore rupees. This investment is aimed at providing the necessary financial backing for the latter to initiate and support new projects.
Discussing the details of this agreement, R. Arora, the chief financial officer of Sunil Mantri Realty, noted that this partnership is set to empower the organization in reaching its aspirational objectives for future endeavors. Sunil Mantri Realty is known for its diverse array of both residential and commercial developments located across major urban centers such as Mumbai, Hyderabad, Pune, Bangalore, Solapur, Nagpur, and Gwalior.
Additionally, the company recently entered into a memorandum of understanding with MSC Cyberport Sdn Bhd, a Malaysian enterprise, to collaborate on various aspects including development, construction, marketing, and funding related to the Bandar MSC Cyberport project. This ambitious undertaking covers an impressive area of 6,534,000 square feet.