TDI infra to develop two township projects

New Delhi: Real estate firm TDI Infrastructure plans to invest Rs 300 crore in developing two township projects over the next 4-5 years.

'In the next six months, we will be launching two residential townships in Indore and Meerut spread over 150 acres each. Once all regulatory issues are solved, we will start construction,' TDI Infrastructure Managing Director Kamal Taneja said in New Delhi.

The company would invest Rs 150 crore in each toward construction of the townships, he added.

On the source of funding for the projects, he said it would be a mix of debt and equity.

When asked if the company would approach private equity players in view of liquidity crunch in the banking system, Taneja said: 'We are not completely closed to PE funding, but in today's scenario, they are expensive and their expectations are going very high.'

PE players have become 'very structured' these days and TDI would not like to get into such systems, he added.

'There is obviously funding problem and it is available in a limited way to those developers, who are delivering quality products. It has created little delay in disbursement of loans,' Taneja said.

To deal with the current situation, the company would not embark upon any expansion, mainly on land bank, he added.