Gaurs Group, a leading NCR-based real estate developer, plans to raise funds for a 5 million sq ft commercial project in Noida. The project, spread over 18 acres, will include 2.5 million sq ft of retail space, 2 million sq ft of A-Grade office space, a convention centre, and a hotel, requiring an INR 3,000 crore investment. Additionally, the company launched a 12-acre luxury project in Ghaziabad, selling 1,200 apartments in three days, and plans an ultra-luxury project in Noida's Jaypee Greens. Gaurs Group aims to reduce debt with INR 4,500 crore in receivables.
Gaurs Group, a prominent real estate developer based in the National Capital Region (NCR), is restructuring its operations. The primary goal of its recently held IPO was to generate funds for a massive 5 million square feet commercial project in Noida as well as to support new acquisitions. This ambitious project will be situated in Sector 129, Noida, across an 18-acre plot of land that the company has already acquired.
The commercial development will be one of the largest retail and office space ventures in Noida, featuring 2.5 million square feet dedicated to retail outlets and 2 million square feet for A-Grade office spaces. Additionally, the project will include a convention centre and a hotel, aiming to create a mixed-use facility that appeals to businesses and visitors alike. The estimated investment required for the entire project is around INR 3,000 crore. The company intends to run the development on a lease model, which could make it one of the largest retail projects in Noida upon completion.
In addition to its Noida project, Gaurs Group is focusing on other luxury and ultra-luxury developments. Recently, the company launched a 12-acre luxury housing project in Ghaziabad called 'Gaur NYC Residences,' which features around 1,200 apartments with unit prices starting at INR 2 crore. The project saw remarkable success, with all units sold within just three days, generating total sales of INR 3,100 crore. This swift sale underlines Gaurs Group's reputation for delivering sought-after properties in the region.
Furthermore, Gaurs Group is preparing to launch an ultra-luxury residential project in Noida's prestigious Jaypee Greens. This project is expected to include nearly 300 high-end apartments, further expanding the company's footprint in the luxury real estate segment. As part of its broader business strategy, Gaurs Group is also focused on reducing its debt, which currently stands at around INR 1,300 crore. The company aims to significantly reduce this burden by utilising INR 4,500 crore in receivables from its already sold projects. This financial management plan highlights the company's commitment to maintaining a strong balance sheet while pursuing growth opportunities.
Over the past three decades, Gaurs Group, previously known as Gaursons India Ltd, has built an impressive portfolio, delivering more than 65 million square feet of real estate and handing over 65,000 units. The Group has also diversified into other business sectors, including shopping malls, schools, hotels, solar power plants, and construction. Additionally, it has successfully delivered three large-scale townships, further solidifying its presence as a leading real estate developer in the NCR region.
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