Realty firm Emaar India has raised about Rs 500 crore debt so far this fiscal and plans to raise another Rs 500 crore by March 2018 to meet construction cost of its ongoing and upcoming projects.
Dubai-based Emaar Properties entered Indian real estate market in 2005 in partnership with India's MGF Development and invested Rs 8,500 crore through joint venture firm Emaar MGF Land. However, in April last year, it decided to end this JV.
Emaar India has been focusing on execution of ongoing projects since the initiation of demerger process, which is pending before the National Company Law Tribunal (NCLT).
"We have raised about Rs 500 crore since April this year from different banks and we have plans to borrow another Rs 500 crore," Emaar India CEO Sanjay Malhotra told
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