M3M India Targets Rs 5,000 Crore Revenue From 333 Acre Township In Haryana

Realty firm M3M India on Wednesday said it is targeting 5,000 crore in revenue from its 333-acre township in Panipat.

In a statement, the company said it has received the license to develop the "M3M City of Dreams" township at Panipat in Haryana.

The company has already sold over 700 plots -- worth about Rs 1,100 crore -- out of 2,100 plots, M3M said.

M3M is expecting a topline of Rs 5,000 crore from this project.

The company has received RERA registration for the entire 333-acre land parcel that it had acquired from Ambience for Rs 1,500 crore, including necessary government fees.

"The company is investing Rs 1,200 crore, towards its development," M3M said, adding that the total cost, including land price, would touch Rs 2,700 crore.

Gurugram-based M3M aims to deliver this project in the next 15-18 months.