It is due to finalise the terms and execute an alliance agreement with client Vipul within 14 days.
The AU$125.41m (£75.8m) project will generate revenue of approximately AU$108.4m for Leighton Asia, which is part of CPB Contractors and Cimic Group.
Phase one of the Vipul Aarohan Residences project includes three residential towers and a club retreat building, with a total built-up area of approximately 160,000m2. Early works have been under way, including phase one excavations, construction of the entry gate portal structure, landscaping and other site mobilisation activities. Construction for the main contract works is expected to begin this month for completion by September 2020.
CPB Contractors and Leighton Asia Managing Director Román Garrido said: “Our team’s commitment to working with the client on innovative design and construction methodologies will optimise project results and deliver a high-quality asset of lasting value.
“The Vipul Aarohan Residences is our fourth major development project won in India in the past nine months, following the awards of Maker Maxity and Ten BKC, both located in Mumbai, and the Ikea retail outlet in Hyderabad, with a combined revenue of approximately AU$542 million.”