Puneet Dalmia funds realty start-up
Puneet Dalmia, Managing Director, Dalmia Bharat Group has, in his individual capacity, made an initial investment of Rs. 50 crore in PRITHU, a startup in the realty sector. The company, founded by a dynamic young team some of whom are IIM, IIT and SPA alumni, seeks to disrupt the highly-fragmented contractor-built individual home segment in Delhi. Over the next five years, Prithu is targeting an annual turnover of over Rs 500 crore. The initial investment gives Puneet Dalmia a 74 per cent stake, and the balance will be held by Nitin Bansal, Managing Director, PRITHU. PRITHU-built homes are designed for sustainable living, and will seek to be GRIHA (Green Rating for Integrated Habitat Assessment) certified. They include built-in safety and security features, and will cost between Rs 2,300 to Rs 6,000 per sq. ft, covering all design, construction and approvals costs.
Better design, appropriate materials and certified construction quality ensure greater energy efficiency and lower maintenance costs. PRITHU also promises timely delivery and one year of free maintenance post hand over.