Ashwin Sheth Group To Invest Rs 5,000 Crore For Expansion

The Ashwin Sheth Group, a real estate firm based in Mumbai, announced on Tuesday its plan to invest approximately Rs 5,000 crore for business expansion, with intentions to launch its inaugural public offering within the next 18-24 months.

The company reported achieving sales bookings of about Rs 1,500 crore in the last fiscal year, marking a three-fold increase from the 2022-23 financial year.

"We are targeting to double our sales bookings to Rs 3,000 crore in the current 2024-25 fiscal," Ashwin Sheth, chairman and managing director of the company, told PTI.

According to company representatives, the group aims to diversify its business footprint within the Mumbai Metropolitan Region and is expanding into Bengaluru and Delhi-NCR. It is also exploring opportunities to enter Hyderabad, Chennai, and Goa.

"We are planning to launch an initial public offering in the next 18–24 months," Sheth said.

Ashwin Sheth Group will also enter into other segments like warehousing.

"India's real estate market has long been a key driver of economic growth, significantly contributing to the country's GDP. As Mumbai leads the luxury market and the real estate industry experiences positive momentum, we decided this was the perfect time for us to move onto the next level," Sheth said.

"We are aggressively expanding in the Pan MMR region, and we will be soon launching projects in Kandivali, Borivali, Sewree, Juhu, 7 Rasta, Marine Drive, Nepean Sea Road, Goregaon, Thane, Mulund, and Mazagaon," said Bhavik Bhandari, chief sales and marketing officer, Ashwin Sheth Group.

The company is acquiring land across cities to expand business, Bhandari said.

The acquisition is both outright and Joint Development Agreements with landowners.

The company is also expanding its product portfolio across residential, commercial, township, villas, retail, mix-use, farmhouses, co-working spaces, second homes and warehousing, Bhandari said.

Ashwin Sheth Group, founded in 1986, has developed more than 80 luxury projects in India and Dubai.

(With inputs from PTI).