In Short:
Realtor Ashwin Sheth Developers plans to launch an IPO to raise ₹2,500 – ₹3,000 crore in the next 18-24 months. They will invest ₹4,500 crore in the next 3-5 years and expand to cities like Delhi, Bengaluru, and others. They have big projects lined up in Mumbai with significant revenue potential. The company aims to increase sales revenue, expand its business five times, and improve profitability and margins over the next five years.
Exciting Times Ahead for Sheth Developers!
Get ready for some major news in the real estate world! Realtor Ashwin Sheth Developers is gearing up to launch its initial public offering in the next 18-24 months, aiming to raise a whopping ₹2,500 – ₹3,000 crore. How cool is that?
Expansion Plans
But wait, there’s more! The company is also all set to invest ₹4,500 crore over the next 3-5 years, eyeing cities like Delhi, Bengaluru, Hyderabad, Chennai, and Goa. Chairman and Managing Director, Ashwin Sheth, spilled the beans about launching three projects in Bengaluru, considering new ventures in Pune, and exploring opportunities in the Delhi-NCR region. The future looks bright!
What’s Next?
The IPO funds will be used to clear a debt of ₹400 crore and snag some new land parcels. The Mumbai-based developer also has a bunch of big projects in the pipeline.
In the pipeline
Some exciting projects are brewing in Mumbai, with revenue potential soaring high! From the suburbs to south Mumbai, they’ve got some impressive plans that will definitely shake things up.
Bright Future Ahead
In FY24, the company’s sales revenue shot up to ₹1,486 crore, tripling from the previous year. With plans to expand five times in the next five years, things are looking up for Sheth Developers. Profitability and margins are expected to rise by 10-15%, with a target portfolio of 40-45 msf in sight!
Market Insights
Ashwin Sheth is optimistic about the housing market, predicting sustained demand with economic growth. The company’s revenue currently relies heavily on premium projects but brace yourselves, as the shift towards other segments is on the cards.
Exciting times indeed for Ashwin Sheth Developers! Stay tuned for more updates as they continue to make waves in the real estate realm.
