Emaar India plans to raise Rs 1,000 cr debt for construction

Realty major Emaar India plans to raise up to Rs 1,000 crore debt to meet construction expenses as it targets to complete all the ongoing 50 projects over the next two years.

The company has already raised Rs 2,500 crore debt in last one year, of which about Rs 1,500 crore was used to replace costlier debt.

In April last year, Dubai-based Emaar Properties decided to end the 11-year-old India JV with MGF Development through demerger process. Since then, Emaar India is focusing on execution of ongoing projects.

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