Chennai-based Real Estate Firm Grand Housing Files IPO Draft Papers
Chennai-based real estate developer Grand Housing has filed its Draft Red Herring Prospectus (DRHP) with Sebi for its proposed IPO. The offering consists solely of an offer-for-sale (OFS) component, with the company's promoter, Vijay Surana J, set to sell about 3.55 crore shares.
Real EstateIpoGrand HousingChennaiVijay Surana JReal EstateOct 06, 2025
Incorporated in 2004, Grand Housing is a real estate developer with a primary focus on plotted developments in Tamil Nadu, particularly in and around Chennai. As part of its business, the company acquires parcels of land and builds basic infrastructure such as roads, power connections, sewage, and water supply, thereby converting it into developable land. The company has also worked to acquire contiguous parcels of land in some cases to create larger areas that are more economically viable for further development.
Its plotted developments are divided into two segments — the residential segment, comprising the development of residential plots, and the industrial segment, comprising the development of large contiguous land parcels to be used for industries. The company develops and sells residential land plots mainly to homeowners for the construction of houses and villas. The sizes of its residential plots typically range from 600 square feet to 2,400 square feet, with the price of an individual plot ranging from Rs 1,500 per square foot to Rs 5,000 per square foot.
As of March 31, 2025, the company’s land reserves comprised approximately 1,908.52 acres of land, excluding ongoing projects, completed projects, and upcoming projects. The company’s revenue from operations was Rs 156.66 crore during the financial year 2025 (FY25), compared with Rs 94.61 crore during FY23. Its net profit was Rs 84.59 crore during FY25 against Rs 30.92 crore during FY23.
Grand Housing's IPO is a significant step for the company, as it aims to raise capital to further expand its real estate portfolio and infrastructure projects. The proceeds from the sale of shares will likely be used for various strategic initiatives, including the acquisition of additional land and the development of new projects.
Frequently Asked Questions
What is a Draft Red Herring Prospectus (DRHP)?
A Draft Red Herring Prospectus (DRHP) is a document filed with the Securities and Exchange Board of India (Sebi) by a company planning to go public. It provides detailed information about the company, its business, financials, and the proposed initial public offering (IPO).
What is the offer-for-sale (OFS) component in an IPO?
The offer-for-sale (OFS) component in an IPO is when existing shareholders sell their shares to the public. In this case, the company itself does not raise new capital, but the selling shareholders do.
What is the primary focus of Grand Housing's business?
Grand Housing's primary focus is on plotted developments in Tamil Nadu, particularly in and around Chennai. They acquire land and develop it with basic infrastructure such as roads, power connections, sewage, and water supply.
How much land does Grand Housing have in its reserves?
As of March 31, 2025, Grand Housing’s land reserves comprised approximately 1,908.52 acres of land, excluding ongoing projects, completed projects, and upcoming projects.
What were Grand Housing's financials for FY25?
In the financial year 2025, Grand Housing's revenue from operations was Rs 156.66 crore, and its net profit was Rs 84.59 crore.
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