Casagrand plans to IPO in 2022, Real Estate News, ET RealEstate
The company recently received funding of Rs 1200 crore from international investors like Apollo Global and KKR.
He plans to invest Rs 3,000 crore in the residential real estate market in Chennai and Rs 750 crore in other markets over the next year.
It also plans to strengthen its presence in Bengaluru and will invest Rs 1,250 crore over the next year. The company is also looking to enter the Hyderabad market with an initial investment of Rs 1,500 crore. These two markets will contribute 35% while Chennai will contribute 65% of total revenue over the next 2-3 years, the company said.
In order to fuel their growth plans, the company plans to acquire plots of land worth Rs 10,000 crore in potential turnover and has already acquired plots of land worth Rs 6,000. crore of potential turnover during the last financial year.
The company aims to achieve a sales target of Rs 3,750 crore in this fiscal year compared to Rs 2,300 crore last year and plans to establish sales offices in the US and Dubai.
Casagrand will mainly develop affordable and medium luxury apartments, villas, with an average ticket size of Rs 85 lakh. However, the company intends to focus on developing more affordable homes ranging from Rs 25-45 lakh, he said.
Meanwhile, Staylogy, the company’s cohabitation space, plans to add 2,000 beds over the next three years.