IL&FS Engineering and Construction to build Rs 77.5 crore commercial complex for Unitech

NEW DELHI: Infrastructure developer IL&FS Engineering and Construction today said it has received letter of intent (LoI) for construction of a Rs 77.5 crore commercial complex in Gurgaon from Unitech Ltd.

"IL&FS Engineering and Construction company has received LoI from Unitech Ltd for a total value of Rs 77.5 crore for construction of ' Signature III', a commercial complex in Sector-15, Gurgaon," the company said in a filing to the BSE.

The building project entails three basements. The company said it will complete the project in 21 months.

The special feature of this building is that unlike glass curtain walls, it has dry stone cladding and is designed as a classic building by Ricardo Boffil, a Spanish architect, it said.

Shares of the company today closed at Rs 42.60 apiece on the BSE, up 6.37 per cent from its previous close.