Arun Mn, Founder and Managing Director of Casagrand announced that, “Company is planning to strengthen its presence in Bangalore and enter Hyderabad market with an initial investment of Rs. 1500 crore. In order to fuel their growth plans, the company plans to acquire total land parcel worth of potential turn over 10,000cr and has already acquired 6000 cr in the last fiscal. He mentioned that the company were successful in achieving its sales targets, resuming its operations post lockdown.”
Casagrand will add 25 million sq. by 2024 and aims to go for IPO by next year. Motialal Oswal and JM jointly appointed as bankers for IPO. Recently, CASAGRAND has received funding of 1200 cr from International investors like Apollo Global and KKR.
Highlights from the announcement include the company’s aims to achieve sales target of 3750cr in comparison to last year’s 2300 cr and plans to establish sales office in USA and Dubai. It also plans to invest total 5000 cr in residential real estate market – Chennai 3000 cr, Bangalore 1250cr other markets 750 cr.
The company is going to strengthen its presence in Bangalore and Hyderabad, these two markets will contribute 35% while Chennai will contribute 65% of total revenue. Its majorly developments will be in affordable and mid-luxury apartment, villas, average ticket size 85L. However, the company intends to focus in developing more affordable houses ranges between 25-45 L.
Updates on Casagrand group companies comprise plans of growing Casagrand PropCare by 250- 300 crore from current 100 crore, Staylogy, Casagrand’s Co-Living space to add 2000 beds in the next 3 years, Casagrand Distripark being rechristened as Casagrand SpaceIntell with an aim of building 10-12 million sq.ft of industrial warehousing in the next three years and Casagrand Bizpark division to focus on developing and owning rent yielding IT and office spaces of 5 million sq. ft.
