Gaurs Group Plans to Launch IPO to Fund Massive Noida Commercial Project
Gaurs Group, a prominent real estate developer based in NCR, is planning to launch an IPO to raise funds for a 5 million sq ft commercial project in Noida. The company also has ambitious plans for luxury real estate projects in Ghaziabad and other regions
IpoReal EstateNoidaLuxury HousingCommercial ProjectReal EstateOct 09, 2024
The ambitious Noida project, spread across 18 acres of land in Sector 129, is expected to include 2.5 million sq ft of retail space, 2 million sq ft of A-Grade office space, a convention center, and a hotel. The total investment required for this project is estimated to be around ₹3000 crore. Manoj Gaur, the chairman and managing director of Gaurs Group, stated, “We are planning to launch an IPO for futuristic acquisitions. We require money for our commercial project coming up in Noida. However, before the process can begin, restructuring of the company needs to be done, bringing several companies under a common umbrella. This may take around 1.5 years.”
Gaurs Group is not just focusing on commercial real estate. The company is also making significant strides in the luxury housing market. Recently, they launched a 12-acre luxury project in Ghaziabad, comprising around 1200 apartments with unit prices starting at ₹2 crore. The luxury housing project, named 'Gaur NYC Residences,' was sold out in just three days, generating a total sales value of ₹3,100 crore. The company has further plans to develop another ultra-luxury project in Noida’s Jaypee Greens, which is expected to have close to 300 apartments.
Manoj Gaur emphasized the robust demand in the real estate market, stating, “We have plans to launch more real estate projects with a value of around ₹5000 crore.” These projects will span various verticals, including housing, commercial, hotels, schools, retail, and sports. The company is actively looking to acquire more land parcels to support these ambitious plans.
Gaurs Group is also focused on reducing its debt, which currently stands at around ₹1300-1400 crore. With receivables amounting to ₹4500 crore from sold projects, the company is well-positioned to manage its financial obligations. Manoj Gaur added, “Our debt is around ₹1300 crore to ₹1400 crore, and we are confident of managing it with our receivables.”
Founded over three decades ago as Gaursons India Ltd, Gaurs Group has developed over 65 million sq ft and delivered 65,000 units. The Group has diversified into various allied verticals, including shopping malls, schools, hotels, solar plants, and construction. They have successfully delivered three townships to date.
The upcoming Noida project is expected to be one of the largest retail developments in the region. The company’s strategy of running the facility on a lease model underscores their commitment to long-term growth and sustainability. With a strong track record and a well-thought-out plan, Gaurs Group is poised to make significant strides in the real estate sector.
Frequently Asked Questions
What is the primary purpose of Gaurs Group's IPO?
The primary purpose of Gaurs Group's IPO is to raise funds for the construction of a 5 million sq ft commercial project in Noida and for potential new acquisitions.
What are the key components of the Noida commercial project?
The Noida commercial project includes 2.5 million sq ft of retail space, 2 million sq ft of A-Grade office space, a convention center, and a hotel, spread across 18 acres.
What is the estimated investment required for the Noida project?
The total investment required for the Noida project is estimated to be around ₹3000 crore.
What is the recent luxury housing project launched by Gaurs Group in Ghaziabad?
Gaurs Group recently launched a 12-acre luxury project in Ghaziabad named 'Gaur NYC Residences,' comprising around 1200 apartments with unit prices starting at ₹2 crore.
What is Gaurs Group's current debt, and how do they plan to manage it?
Gaurs Group's current debt is around ₹1300-1400 crore, and they plan to manage it with receivables amounting to ₹4500 crore from sold projects.
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