Wednesday, May 8 2024 | Time 10:48 Hrs(IST)
image
Business EconomyPosted at: Apr 16 2024 5:03PM


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.
UNI SKB CS
Please log in to get detailed story.
Tags: #MET City of RIL garners Rs 1#913 crore from booking of plots in 2023-24
More News

YES BANK, global co EBANX announce partnership for payment processing in India

07 May 2024 | 7:16 PM

New Delhi, May 7 (UNI) India's private sector bank YES BANK, and EBANX, a global fintech company specialised in payment solutions for emerging markets, on Tuesday announced a strategic partnership for payment processing in India, for the global digital economy.

see more..

Agri Startup Hectar Global expands into Bangladesh

07 May 2024 | 7:07 PM

Chennai, May 7 (UNI) B2B cross-border agri-trade startup Hectar Global today announced its strategic expansion into the Bangladesh market to strengthen its downstream trade capabilities.

see more..

Shyam Metalics Group commences operation at recently acquired Ramsarup Plant

07 May 2024 | 6:06 PM

Kolkata, May 07 (UNI) Shyam Metalics and Energy Ltd, the metals manufacturing company, has announced the commencement of operation at recently acquired Ramsarup plant following its indirect acquisition through its wholly owned subsidiary Shyam Sel and Power Limited in May 2022.

see more..
Indian stock market bleeds; Sensex plunges over 383 points

Indian stock market bleeds; Sensex plunges over 383 points

07 May 2024 | 6:03 PM

Mumbai, May 7 (UNI) Snubbing the rally in the foreign bourses, India’s stock market plunged nearly 400 points as the 30-share sensex ended at 73511.85 for the day, down 383.69 points from previous close.

see more..

Jindal Stainless supplies spl alloy steel in DRDO’s SMART system for Navy

07 May 2024 | 5:37 PM

New Delhi, May 7 (UNI) Integrated steel maker Jindal Stainless on Tuesday said it has developed a specialized 3mm special alloy steel to be used for structural application in the Supersonic Missile – Assisted Release of Torpedo (SMART) system, aimed at enhancing Navy’s anti-submarine warfare capabilities.

see more..
image