Realty agency Gaurs Group will make investments about Rs 4,000 crore to develop a 17-acre industrial undertaking in Noida as a part of its technique to construct rental belongings, a prime firm official mentioned.
Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur mentioned the corporate will develop 5 million (50 lakh) sq ft of economic area within the upcoming Grade-A undertaking.
“We’re planning to develop a big industrial undertaking on Noida Expressway. The full space will likely be about 5 million sq ft, of which 2.5 million sq ft will likely be retail, 2 million sq ft workplace and a lodge with greater than 300 keys,” Gaur mentioned.
He mentioned the corporate will develop the undertaking on lease mannequin to spice up its annual rental revenue that at the moment stands at greater than Rs 125 crore.
Requested about funding, Gaur mentioned it is going to be about Rs 4,000 crore.
The corporate is concentrating on to start out development of this undertaking earlier than March 2024.
Gaur mentioned the corporate will fund investments on current in addition to upcoming initiatives by way of inside accruals and financial institution loans.
“We have now gross sales receivables of greater than Rs 4,000 crore and the quantity will contact Rs 5,000 crore by finish of this fiscal,” Gaur mentioned.
He remained extraordinarily bullish about housing demand within the NCR market and highlighted that the corporate’s newest Rs 3,100 crore value luxurious housing undertaking at Ghaziabad obtained offered in simply three days.
Gaurs Group, one of many main actual property builders in Delhi-NCR, is planning to launch its preliminary public providing within the subsequent 18 months because it appears to be like to increase enterprise amid sturdy shopper demand.
Gaur mentioned the corporate is restructuring its enterprise operations, earlier than approaching market regulator Sebi for launching an IPO.
Gaurs Group desires to increase housing enterprise and in addition create steady rent-yielding industrial belongings, together with malls, lodges, workplace areas, colleges/schools and conference centres.
Gaur, who can be the chairman of realtors’ apex physique Credai, mentioned the corporate has land financial institution for growth of actual property initiatives and is constantly exploring so as to add extra land parcels in its portfolio.
With a legacy spanning over three many years, Gaurs Group (previously Gaursons India Ltd) has developed over 65 million sq ft and delivered 65,000 items.
The group has additionally ventured into allied verticals of buying malls, colleges, lodges, photo voltaic plant, and development.
The group has delivered three townships to this point, of which the notable one is Gaur Metropolis in Noida Extension that’s residence to virtually 30,000 households.
