Indian Real Estate Giant Sattva Group Aims for 85% Housing Sales Growth
Sattva Group targets 85% growth in housing sales, India real estate, Mumbai property, residential sales, Bengaluru-based developer
India Real EstateSattva GroupHousing SalesMumbai PropertyBengaluru Based DeveloperReal Estate MumbaiJun 30, 2024
The company's Managing Director, Bijay Agarwal, is bullish on India's housing market and attributed the growth to the strong demand for residential properties post-COVID pandemic. The leasing activities in the office market are also back on track. To capitalize on this trend, Sattva Group will launch new projects in Mumbai, Hyderabad, and Bengaluru, with a combined area of over 20 million square feet.
In addition to its residential projects, Sattva Group is also expanding its co-working and co-living businesses, Simpliwork Offices and Colive. The company plans to list these businesses on stock exchanges in the next 2-3 years. Sattva Group has more than 50% stake in Simpliwork and Colive.
The company is also in discussions with Blackstone to launch a Real Estate Investment Trust (REIT) to monetize its commercial assets. Sattva Group and Blackstone have a joint portfolio of around 32 million square feet, of which 18 million square feet are already completed.
Sattva Group has a significant presence in the hospitality sector, with two hotels in Kolkata and a luxury resort in Bengaluru. The company is planning to expand its hotel business and is in talks for a few more deals.
Information
Sattva Group is a leading Indian real estate developer with a significant presence in South India. The company has completed 140 projects comprising 80 million square feet area in the last 30 years.
Sattva Group is one of the leading real estate developers in India with a significant presence in South India. The company has completed 140 projects comprising 80 million square feet area in the last 30 years.
Frequently Asked Questions
What is Sattva Group's target for housing sales this fiscal?
Sattva Group aims to achieve 85% growth in housing sales, reaching Rs 6,500 crore this fiscal.
Where is Sattva Group planning to launch new projects?
Sattva Group is planning to launch new projects in Mumbai, Hyderabad, and Bengaluru.
What is the company's plan for its co-working and co-living businesses?
Sattva Group plans to list its co-working and co-living businesses, Simpliwork Offices and Colive, on stock exchanges in the next 2-3 years.
Is Sattva Group planning to launch a Real Estate Investment Trust (REIT)?
Yes, Sattva Group is in discussions with Blackstone to launch a REIT to monetize its commercial assets.
What is Sattva Group's presence in the hospitality sector?
Sattva Group has two hotels in Kolkata and a luxury resort in Bengaluru, and is planning to expand its hotel business.
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