Reality Firm Ashwin Sheth Group has made an announcement regarding an investment around Rs.5,000 crore to expand its business and are planning to launch its maiden public issue in the next 18-24 months.
The Mumbai based company said that, it has achieved sales bookings of around Rs.1,500 crore during the last fiscal, a 3-fold increase from the 2022-23 financial year.
The CMD Ashwin Sheth told media, "We are targeting to double our sales bookings to Rs.3,000 crore in the current 2024-25 fiscal."
The company intends to broaden its business portfolio in the Mumbai Metropolitan Region (MMR) and is venturing into Bengaluru, Delhi-NCR. Additionally, it is considering entering Hyderabad, Chennai, and Goa.
He also added, “We are planning to launch an Initial Public Offering (IPO) in the next 18-24 months.” The company is aloso planning to enter in different segment of industry like warehousing.
Ashwin Sheth told, "India's real estate market has long been a key driver of economic growth, significantly contributing to the country's GDP. As Mumbai leads the luxury market and the real estate industry experiences positive momentum, we decided this was the perfect time for us to move onto the next level.”
The Chief Sales and Marketing Officer, Ashwin Sheth Group, Bhavik Bhandari said, "We are aggressively expanding in the Pan MMR region and we will be soon launching projects in Kandivali, Borivali, Sewree, Juhu, 7 Rasta, Marine Drive, Nepean Sea Road, Goregaon, Thane, Mulund, and Mazagaon."
He also informed that they have already acquired several lands across different cities to expand business. The acquisition is both outright and Joint Development Agreements (JDAs) with landowners.
He mentioned that the company is broadening its range of products to include residential, commercial, township, villas, retail, mixed-use developments, farmhouses, co-working spaces, second homes, and warehousing.
Established in 1986, the Ashwin Sheth Group has successfully delivered over 80 luxury projects in India and Dubai.
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