Real estate firm, Oberoi Constructions, plans to raise Rs 100 crore through an initial

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public offer (IPO) by March next year.

"We will come out with an IPO in the first quarter of next calender year (January-March 2010). We have not decided anything yet...Things are still on the drawing board," Oberoi Constructions' Managing Director Vikas Oberoi told reporters here today.

Oberoi said the company plans to invest the raised capital in buying more properties.

Godrej Properties and the Lodha group are amongst a few other real estate players in recent times to have evinced interest in getting listed on the bourses

.

"We are planning to raise at least Rs 100 crore through the IPO and plan to use the fund in buying more properties," he said.

The company holds a portfolio of 26 projects mapped over two-million square feet spread across Mumbai. It is currently developing around four-million sq ft of property in the metropolis.

"Property prices have decreased by 25 per cent in May, but we would not like to hike prices for the time being," Oberoi said.

He said the company has signed property deals worth USD 100 million since April.