Vatika confirms all loans are being serviced
Vatika Limited is a market leader in mid-income housing in Gurgaon and among the top preferences for tenants for its office spaces.
The company has confirmed that it is a standard asset across all its lenders including NBFCs and HFCs such as HDFC, Piramal Enterprises, and Indiabulls Housing.
Every lender is well capitalized through escrow accounts which have demonstrated strong cash flows and the company remains optimistic about its FY19 sales targets. Vatika Limited remains focused on Mid-Income Housing and Grade A office spaces within the city of Gurgaon.
“Some of our key residential assets include Vatika India Next (Gurgaon) spread over 600 acres with a mix of asset classes and over 6000 families residing. We have also delivered a 600-acre project in Jaipur in a time period of 7 years. Vatika Limited is currently developing Vatika India Next 2 spread over 235 acres,” said Head of Finance, Vatika Limited, Anirban Mukhopadhyay.
In the last 20 years, the company has delivered nearly 40 million square feet totalling an asset value of 15,000 crores of residential spaces and 3,000 crores of commercial office spaces. In terms of dwelling units, the company has delivered 15,396 units. The company enjoys an occupancy rate of nearly 97% across its commercial assets and 71% habitation across its residential assets.
The company is currently constructing 6.38 million square feet (3,639 units) residential spaces and 2.11 million square feet of commercial space within Gurgaon. It has 15.38 million square feet (11,798 units) under design and commercial space totaling7.28 million square feet under design.