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Adani Realty sets up a 2020 goal of dozen new projects
Dnaindia.com  |  June 6, 2019

Ateeq Shaikh

Adani Realty is going aggressive on project launches. For this year alone, it has planned seven million square feet of new projects, which is 50% of the total area delivered in the last three years.

 

The company aims to come up with a dozen new residential and commercial projects in West and North India until 2020.

 

"This calendar year, our plan is to launch seven million square feet across our markets of MMR, National Capital Region (NCR), Ahmedabad and Pune," Ajay Munot, chief executive officer, Adani Realty told DNA Money on the sidelines of company's knowledge sharing session 'Expanding Horizons'.

 

BUILDING BIG

 

  • 14 mn sq ft &ndash Company has delivered in last the three years 
  • 4 &ndash Projects to be launched in the MMR by 2020 
  • 5 &ndash Projects lined up in the NCR

 

This seven-year-old Gautam Adani-promoted company has delivered around 14 million square feet in the last three years.

 

As per the plans, the Ahmedabad-based real estate company will be focusing on two residential segments &ndash middle and affordable. In the mid-segment, it plans to come out with compact sizes in the range of 600 to 900 square feet carpet area.

 

In the Mumbai Metropolitan Region (MMR), the company has lined up four projects, including three in affordable housing and one in the mid segment. A couple of months back, the company launched a high-end project in Byculla.

 

In Ahmedabad, there are four projects including residential and commercial in the pipeline.

 

Five projects are lined up for NCR. But going forward, across regions, there would be a lesser focus on the luxury segment. The company recently launched a few high-end projects &ndash Vilasas in Gurgaon, a project in Pune's Koregaon Park and the second phase of a luxury building in South Mumbai.

 

Under affordable housing, Adani Realty is working to launch three projects in the MMR in the next calendar year - one project each in Panvel (township), between Borivali and Virar and between Thane and Kalyan.

 

A similar plan is in the pipeline to launch the third phase of affordable housing in NCR's Gurgaon.

 

In the commercial segment, Munot said next month the company plans to launch a 6.5 lakh square feet project in Delhi and a club house in the NCR. It is also looking at a project of around 6 lakh square feet in Ahmedabad.

 

While Munot refused to share the amount of funds that would be raised to implement these projects, he said that they would continue the borrowing activity for new projects as well as to retire old debts. A substantial portion of their fund-raising will be from banks and a negligible amount would come from the non-banking finance companies.

 

Munot also said they won't enter any new market in the immediate future.