Century Real Estate targets to Double its Yearly Turnover to Rs. 2,100 crore

Over the course of the next 18 months, Century Real Estate, a Bengaluru-based real estate developer, is anticipated to construct eight home projects in the IT Capital, spanning over 55 acres, according to Maninder Chhabra, Director of Sales, Marketing, and Customer Relationship management.

Home units in the eight projects that will be introduced in North and East Bengaluru would cost more than Rs. 1.4 crore.

The projected revenue potential and gross development value of these projects were not disclosed by the company.

But during the pre-launch stage, two of the eight projects—Codename Built Rare in Indiranagar and Codename UnbeLivable in Yelahanka—have already brought in Rs. 650 crore for the business. Over the course of the following two months, the initiatives will formally launch.

In fact, Codename Built Rare is expected to set a new standard for pricing in Bengaluru's residential real estate sector.

The project is anticipated to generate Rs. 2,200 crore in total income for the real estate player, with a pricing range that starts at Rs. 5.5 crore and goes up to Rs. 25 crore. According to the business, the 8.5-acre project would include 345 townhouses, penthouses, imperial units, and flats with three or four bedrooms.

Speaking about the company's financial goals, Chhabra disclosed that Century, which made Rs. 1,024 crore in the first half of the fiscal year, also hopes to quadruple its sales in the current one.

 “Luxury at the moment is the buzzword, and hence we felt this was the time to bring this parcel into the market.  Chhabra remarked. Last year we crossed Rs. 1,000 crore of turnovers. This year, we have plans to double that, to take that to Rs. 2,100 crore. We’ve already crossed last year’s number as of H1”, he added.