Mohota Industries (formerly known as Rai Saheb Rekhchand Mohota Spinning & Weaving Mills) is in focus as the company forms a joint venture (JV) for affordable housing project worth Rs 160 crore. In an interview to CNBC-TV18, Kanishka Gaggar, VP-Finance of the company spoke at length about the JV.
Gaggar said that the project will begin around April-May 2018 and will be finished over 24 months.
He further said that we are contributing only through the land; operationally we will not be involved in the project. The entire development, construction, marketing would be taken care by our JV partner.
Total development is spread around 4.5 lakh square feet, he added.
Watch accompanying video for more details.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!