Assotech World Receives ₹75 Crore Project Finance from IOB; 300-Acre Township Expected to Generate 10,000+ Jobs in Bhubaneswar

Bhubaneswar, August 22, 2026: Assotech Group’s integrated township project, Assotech World, is set to add momentum to Bhubaneswar’s real estate and employment landscape, with Indian Overseas Bank (IOB) sanctioning ₹75 crore in project finance for the development.

Spread across approximately 300 acres, Assotech World is envisioned as an integrated township, with the project expected to generate 10,000+ employment opportunities across its construction and operational phases.

The institutional financing is significant as real estate project finance is generally linked to construction milestones, enabling funds to be deployed in phases against actual progress. For a development of this scale, such financing can support sustained construction activity and employment across multiple stages of the project.

The township is expected to create direct employment for masons, steel-fixers, electricians, plumbers, general labour, site supervisors and project management teams. The employment impact is also expected to extend to allied sectors including material suppliers, transportation and logistics operators, equipment rental services and local contractors.

Beyond construction, the development is expected to generate continuing employment through security, housekeeping, maintenance, transport and domestic services once residents begin occupying the township. The planned Pride World School within the township is also expected to create opportunities across teaching, childcare and school-support roles.

Aditya Prakash, Director, Assotech Group, said, “Bhubaneswar presents significant potential for organised real estate development. The ₹75 crore project finance from Indian Overseas Bank marks an important milestone for Assotech World. Through this 300-acre integrated township, we aim to contribute to the city’s residential infrastructure while creating meaningful employment opportunities across the development and its supporting ecosystem.”

With its scale, institutional financing and employment potential, Assotech World is positioned to contribute to Bhubaneswar’s evolving urban and economic landscape.