Tata realty and infrastructure limited plans to launch 9 million square feet of residential real estate inventory with a topline of Rs 11,000 crore over the next four years. We are putting 70% of efforts on premium luxury projects and the remaining on affordable and mid-segment projects, said by Sanjay Dutt, MD and CEO at TRIL.
He claimed that locations like Bengaluru, Mumbai, and Delhi NCR will host the majority of the planned launches. The company also has ambitions to start a 36-villa project in the Maldives and is in the planning stages of a mixed-use project in Sri Lanka.
Mumbai Will Account For 40% Of Total Revenue
Approximately 40% of India’s entire topline of Rs 11,000 crore over the next four years will be generated in Mumbai region. We will concentrate on markets like aspirational budget, mid-segment, and premium luxury. According to Dutt, 70% of the market will be high-end luxury, with the remaining 30% being affordable and mid-segment.
The company will soon begin construction on two residential projects in Mumbai’s Mulund and Andheri micro markets, with Mulund being a renovation and Andheri being a new development. A new phase of the Thane project will begin soon.
In addition to releasing new residential projects in Bengaluru, Mumbai, and the Delhi-National Capital Region, TRIL will concentrate on launching new phases in locations where it already has a presence, including Bhubaneshwar, Noida, Gurugram, Bahadurgarh, and Bengaluru. The average price per square foot for launches will be approximately Rs 12,000, compared to Rs 6,000 to Rs 7,000 and Rs 10,000 per sq ft five years ago.
Tata Infrastructure And Real Estate Limited Commercial Objectives And New Firms
Office parks with a combined area of 10 million square feet are the immediate focus of TRIL. Although it won’t be in the near future, the company is also investigating other business prospects such as warehousing and logistics. Business-to-business (B2B) projects pique TRIL’s attention.
TRIL would primarily concentrate on business development in Chennai, Hyderabad, Bengaluru, Mumbai, and Delhi NCR. Sanjay Dutt earlier claimed that Bengaluru, Mumbai, and Delhi NCR would continue to be the company’s primary residential concentrations.
Source- Moneycontrol
