Punj Lloyd to pump in Rs 180cr in realty JV

New Delhi, Aug 3: Infrastructure major Punj Lloyd has entered into a 50:50 joint venture (JV) with Ramprastha Group for real estate development and said it will invest Rs 180 crore in the said project.

Company's JV partner will also infuse the same amount, a company statement said.

In the first phase of the JV residential apartments in Ghaziabad will be developed and in the second phase substantial real estate development is proposed in Indrapuram and Gurgaon, the statement added.

The planning, design and construction of the residential complexes will be led by Punj Lloyd's Singapore-based subsidiary, Sembawang Engineers and Constructors.

UNI