Ashwin Sheth Group, a prominent Mumbai-based real estate developer, is set to embark on a major expansion drive. The company plans to invest around INR 5,000 crore to strengthen its presence in the Mumbai Metropolitan Region (MMR) and explore new markets like Bengaluru, Delhi-NCR, Hyderabad, and Chennai. Aiming to double its sales bookings to INR 3,000 crore in the current fiscal, the group also intends to launch its IPO within the next 18-24 months, seeking to raise up to INR 3,000 crore. This strategic move will enable the company to fund its ambitious growth plans and diversify its product portfolio into new segments like warehousing.
Ashwin Sheth Group, a prominent Mumbai-based realty firm, has announced an investment of around INR 5,000 crore to expand its business operations. The company plans to launch its IPO within the next 18-24 months, aiming to raise up to INR 3,000 crore.
During the last fiscal year, the company achieved sales bookings of around INR 1,500 crore, a three-fold increase from the 2022-23 financial year. Ashwin Sheth, the company's Chairman and Managing Director, has set a target to double the sales bookings to INR 3,000 crore in the current 2024-25 fiscal.
The company's expansion strategy includes strengthening its presence in the Mumbai Metropolitan Region (MMR) and foraying into new markets, such as Bengaluru, Delhi-NCR, Hyderabad, Chennai, and Goa. Ashwin Sheth Group also plans to diversify its portfolio by entering the warehousing segment.
Bhavik Bhandari, the Chief Sales and Marketing Officer at Ashwin Sheth Group, stated that the company will invest INR 4,500-5,000 crore in the next 3-5 years for land acquisition and construction costs. The company is aggressively expanding in the MMR region and plans to launch new projects in various locations, including Kandivali, Borivali, Sewree, Juhu, 7 Rasta, Marine Drive, Nepean Sea Road, Goregaon, Thane, Mulund, and Mazagaon.
The acquisition of land will be done through both outright purchases and Joint Development Agreements (JDAs) with landowners. Ashwin Sheth Group is also expanding its product portfolio, which now includes residential, commercial, township, villas, retail, mixed-use, farm-houses, co-working spaces, second homes, and warehousing.
Founded in 1986, Ashwin Sheth Group has developed more than 80 luxury projects in India and Dubai, and is currently developing a 6.5 million square feet area.
With a proven track record of developing luxury projects, the group is poised to leverage its expertise and capitalize on the growing demand for high-quality residential, commercial, and specialized real estate offerings. As the company ventures into new markets and diversifies its portfolio, it is well-positioned to drive sustainable growth and create value for its stakeholders in the years ahead.
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