Ashwin Sheth Group Embarks on Aggressive Expansion Plan with Rs 5000 Cr Investment and IPO Launch
Ashwin Sheth Group is set to invest Rs 5000 crore to expand its business, with plans to launch an IPO in the next 2 years. The company aims to double its sales bookings to Rs 3,000 crore in the current fiscal and foray into new markets.
Ashwin Sheth GroupReal EstateMumbaiIpoInvestmentReal Estate MumbaiJul 09, 2024
The Mumbai-based company has achieved sales bookings of around Rs 1,500 crore during the last fiscal, a three-fold increase from the previous year. Ashwin Sheth, CMD of the company, expects to double the sales bookings to Rs 3,000 crore in the current 2024-25 fiscal.
To achieve this ambitious target, the company plans to expand its business portfolio in the Mumbai Metropolitan Region (MMR) and foray into new markets such as Bengaluru, Delhi-NCR, Hyderabad, Chennai, and Goa. Ashwin Sheth Group will also diversify into other segments like warehousing.
The company is aggressively expanding in the MMR region and will soon launch projects in Kandivali, Borivali, Sewree, Juhu, 7 Rasta, Marine Drive, Nepean Sea Road, Goregaon, Thane, Mulund, and Mazagaon. Bhavik Bhandari, Chief Sales and Marketing Officer at Ashwin Sheth Group, said that the company will invest Rs 4,500-5,000 crore in the next 3-5 years on land acquisition and construction costs.
The acquisition will be through both outright and Joint Development Agreements (JDAs) with landowners. The company is also expanding its product portfolio across residential, commercial, township, villas, retail, mix-use, farm-houses, co-working spaces, second homes, and warehousing.
Founded in 1986, Ashwin Sheth Group has developed over 80 luxury projects in India and Dubai. Currently, the company is developing a 6.5 million square feet area. With its aggressive expansion plan and IPO launch, Ashwin Sheth Group is poised to become a major player in the Indian real estate industry.
Information
Ashwin Sheth Group is a leading real estate developer based in Mumbai, India. The company has been in business for over three decades and has developed several luxury projects in India and Dubai.
Frequently Asked Questions
How much is Ashwin Sheth Group investing to expand its business?
Rs 5,000 crore
What is the company's target for sales bookings in the current fiscal?
Rs 3,000 crore
In which new markets is Ashwin Sheth Group planning to foray?
Bengaluru, Delhi-NCR, Hyderabad, Chennai, and Goa
What is the company's plan for diversification?
Entering into the warehousing segment
When is Ashwin Sheth Group planning to launch its IPO?
In the next 18-24 months
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