Trident Realty, a major real estate developer in North India, has undertaken a strategic shift in its business focus. Through the sale of non-core assets including Shipra Mall in Ghaziabad, it has managed to raise INR 1,200 crore. Trident will utilize the sale proceeds for planned residential launches over the next 2 years' worth INR 15,000 crore across major markets in NCR, Mumbai, Panchkula and Tri-City (Chandigarh). This strategic move will allow Trident Realty to concentrate its resources on residential developments, exit non-core holdings, and further cement its position as one of the leading residential real estate players in North India.
NCR-based Trident Realty has raised INR 1,200 crore through sales of assets, including Shipra Mall in Ghaziabad and a land parcel in Gurgaon. The company had acquired 4.5 lakh square foot Shipra Mall in Ghaziabad in 2023 for a total of INR 551 crore through auction. However, Trident Group has now sold the asset as part of its plans to focus on residential projects and exit non-core assets.
The proceeds will be used to strengthen Trident Realty's residential portfolio, as the company has lined up projects worth INR 15,000 crore for launch in 2024-25.
Last year, real estate major DLF said it will invest INR 400 crore as equity to develop a 35 lakh square feet real estate project in Andheri, Mumbai in partnership with Trident Group. Trident is also planning residential projects on the Dwarka Expressway, Golf Course Road Extension and in Panipat, in addition to the next phase of its project in Panchkula.
Trident Realty is currently developing Trident Hills, a 200-acre integrated township in Haryana?s Panchkula.
The company has delivered about 20.34 million square feet of residential, retail, commercial and hospitality space across key markets like NCR, Mumbai Metropolitan Region and Tri-City (Chandigarh). It has an additional 12.91 million square feet under construction.
Through strategic asset sales and planned residential launches, Trident Realty aims to further strengthen its portfolio and focus on the high-growth residential sector.
Advertisement
Facebook
Whatsapp
