<p><em>Puneet Dalmia, MD, Dalmia Bharat seeds Rs 50 crore in an one month old Delhi based reality startup targeting Delhi’s Rs 13,000-crore, contractor-built one-off home market</em>,<em> reports BW Online Bureau</em><br><br>Dalmia Bharat Group's MD Puneet Dalmia has invested Rs 50 crore in a realty start-up, Prithu, in his individual capacity. With this, Dalmia holds 74 percent in Prithu, which caters to the individual home segment. The balance will be held by Prithu's MD Nitin Bansal.<br><br>Prithu, which supplies to the individual home segment is founded by a young team of IIM and IIT alumni, seeks to disrupt the fragmented contractor- driven individual home segment in Delhi. Over the next five years, Prithu is eyeing an annual turnover of over Rs 500 crore.<br><br>“Delhi’s residential stand-alone real estate market is much like the rest of India where one-off homes built by small contractors are the preferred choice. Low degree of professionalism has led to a serious trust deficit in this sector, and home owners often have disappointing stories to narrate regarding on time delivery and quality of specs” mentioned Dalmia.<br><br> Prithu-built homes would 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. The homes would also be GRIHA (Green Rating for Integrated Habitat Assessment) certified.<br><br> “We’re looking to transform the small-contractor-dominated individual or one-off home segment with a systematic and transparent approach, to ensure a superior and satisfying customer experience,” said Nitin Bansal, Co-founder and Managing Director, Prithu.</p>
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