Elan Group awards ₹1100 crore contract to Leighton Asia for luxury housing project in Gurugram
The project is part of Elan Group's 50 acre, integrated township. The contract covers nearly 5 million sq. ft. of built-up area.
The project is designed to achieve IGBC LEED Gold Certification.
Leighton Asia has been awarded significant civil and MEP contracts by Elan Group for its ongoing projects which includes Elan The Presidential, Elan The Imperial and now Elan The Emperor. The total value of these contracts is approximately ₹3000 crore. These contracts cover a total built-up area of approximately 12.5 million square feet.
Rakesh Kapoor, chairman, Elan Group, said, 'With this iconic development, we are shaping a new chapter in ultra-luxury living. Partnering with Leighton Asia once again reinforces our commitment to collaborate with the finest global expertise in delivering excellence at every level.'
Brad Davey, managing director, Leighton Asia, said, 'With more than two decades of on-the-ground experience in India, Leighton Asia takes pride in setting new benchmarks for quality and sustainability in large-scale residential projects. We are proud to be undertaking this prestigious project for the Elan Group.'
Juan Santamaria, executive chairman, CIMIC Group, said, 'Securing further work for the Elan Group is a sign of Leighton Asia's commitment to safety and operational excellence. We are pleased to be providing another premium residential project for the growing population of the region.'
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Time of India
3 minutes ago
- Time of India
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'This is a logical next step following the demerger of the Tata Motors Commercial Vehicle business and will allow the combined group to compete on a truly global basis with two strategic home markets in India and Europe,' said Natarajan Chandrasekaran, Chairman of Tata Group. 'The combined group's complementary businesses and greater reach will enhance our ability to invest boldly.' The Agnelli family, among the most influential in Europe, has interests in engineering, agriculture and automotive controls. It's a prominent stakeholder in Ferrari and also controls Stellantis, the Dutch automotive group that houses Fiat and auto brands such as Alfa Romeo, Chrysler, Citroën, Jeep, Maserati, and Peugeot. The Tata Group has a long association with the group. Fiat and Tata Motors had established a 50:50 joint venture, Fiat India Automobiles Ltd, which set up a plant for cars and engines for both brands at a factory in Maharashtra. 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'The government is closely following the evolution of the matter,' industry minister Adolfo Urso had said earlier this month, when news of the Tata-Agnelli talks were first reported by Reuters. 'In particular, we are doing this as regards the role of Iveco for Italy and its impact on jobs.' Urso said the government will hold a meeting on the potential deal on July 31. Keeping the defence business out of the deal would satisfy the Italian government's demand to keep the business in local hands. For Tata Motors, a deal will give access to technology, innovation and markets for the CV business, which has been a laggard. Europe accounts for 74% of Iveco's revenue although it's present in Latin America and North America as well. In comparison Tata's CV division generates 90% of revenue from India. A successful takeover could nearly triple commercial vehicle revenue from Rs 75,000 crore to over Rs 2 lakh crore, but margins remain a concern. 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Time of India
3 minutes ago
- Time of India
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