Monday, May 27 2024 | Time 14:28 Hrs(IST)
Business Economy

MET City of RIL garners Rs 1,913 crore from booking of plots in 2023-24

New Delhi, Apr 16 (UNI) Reliance Model Economic Township (MET City), a wholly owned subsidiary of Reliance Industries Limited, on Tuesday said the total number of plots booked during 2023-24 stood at 1079 across all segments resulting in a booking value of Rs 1,913 crore, 60 per cent jump over previous year.
The above growth demonstrated impressive performance achieving significant milestones - Industrial Segment saw growth in plot bookings by 93 per cent, reaching a booking value of Rs 896 Crore in FY24, compared to Rs 468 Crore in FY23. Prices also saw an increase of 24 per cent compared to last year.
The Residential Segment plots witnessed remarkable growth with 70 per cent increase reaching a booking value of Rs 1004 Crore in FY24, compared to Rs 620 Crore in FY23. Price has gone higher by 70 per cent compared to last year.
Model Economic Township Limited (MET City), a 100 per cent subsidiary of Reliance Industries Ltd crafting a state-of-the-art Integrated Business City sprawled across 8,250 acres in Jhajjar district near Gurugram, Haryana.
MET City also witnessed the groundbreaking of India’s first 100 per cent FDI in defence manufacturing by SAAB of Sweden. The facility will manufacture world class Carl Gustaf Weapon system for Indian armed forces. Apart from signing SAAB, tje company also signed up key players like Sanko Gosei (Japan), Svam Toyal (Japan), NeoPearl (Switzerland), Shilla C&T(Korea) and Jway (Korea), Indiamo (Belgium), ERDA, Mark Exhaust & Dhoot Transmission (India), the company said in a release.
Additionally, Reliance MET City has secured agreements for the establishment of a hospital and a school, further enhancing its offerings and amenities and making it one of the fastest growing integrated business city of India.
MET City added Beumer from Germany as a new company bringing the total number of companies to more than 540 from 10 different countries.
Mr. S V Goyal, CEO of MET City, after declaring the results, said, “With its Plug-n-Play infrastructure, IGBC Platinum rated certification and companies hailing from 10 different countries, MET City has emerged as a premier business destination of India attracting investments from diverse sectors.
“It is a pioneering project in sustainable development with over Rs 8,000 Crore investment already committed. With its fundamentals strong and an excellent cross functional team in place, MET City is seeing tremendous growth year on year and the momentum is likely to continue with more ambitious projects and numbers coming in future,” he added.
As one of the rapidly expanding business hubs in North India, it stands out as a preferred destination for industries across sectors like defence, engineering, electronics, auto components, medical devices, FMCG, footwear, plastics, consumer products, and many others.
It is also emerging as one of the largest projects for employment generation in India. The consistent growth in employment figures reflects the city's dynamic role in shaping the economic landscape of the region with more than 40,000 people working in various operational companies at the city.
It stands as the sole Japan Industrial Township (JIT) in Haryana, comprising of 6 Japanese companies from electronics to auto-components to medical devices. The project also has 6 companies from South Korea and multiple companies from Europe.
Company is also dedicated to community development and skill training initiatives. In collaboration with Reliance Foundation, it regularly organizes health camps and skill training programs. Additionally, it has established training centres to cultivate a skilled workforce and offer educational coaching to local children.
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