Ashiana Housing to develop 2.5-3 million sqft space in FY25, sets Rs 2,000-cr sales guidance for FY25

Ashiana Housing to develop 2.5-3 million sqft space in FY25, sets Rs 2,000-cr sales guidance for FY25

Ashiana Housing Ltd, a listed real estate developer, is planning to add around 2.5 to 3 million square feet (msf) of space for development in the financial year 2024-25 through its various projects across the country even as the company has set a sales guidance of Rs 2,000 crore for the current fiscal, Joint Managing Director Ankur Gupta told Moneycontrol in an interview.

The company, which has a presence in the senior and assisted living segment, also plans to launch four projects in Chennai, Gurugram and Jaipur in the current fiscal. These include two kid-centric projects and one senior living project.

The Delhi-headquartered company is also planning to enter into real estate markets of Bengaluru, Noida-Greater Noida and Panvel.

“The demand in the housing sector is good and we will be launching one kid-centric homes project each in Jaipur and Gurugram, one senior living project in Chennai and a premium housing project in Jaipur. Last year we had sales booking worth Rs 1,798 crore and this year our sales guideline is to reach Rs 2,000 crore,” Gupta told Moneycontrol.

He added that the development potential of the kid-centric home project in Jaipur will be 8 lakh sqft and it will have 550 units. It will come up on Ajmer Road in Jaipur and the ticket price will be around Rs 75 lakh.
Similarly, another kid-centric housing project will come up in sector 80 in Gurugram and it will have 700 units with development potential of 11 lakh sqft (1.1 msf). The ticket price in this project is expected to oscillate between Rs 2.5 crore and Rs 3.5 crore.

Kid-centric projects have more dedicated amenities for kids and the common central areas will be designed keeping in mind the interests of children such as science club, library for kids etc.

The company’s senior living project Ashiana Swarang will be located on the ECR Road in Chennai and will have development potential of 6 lakh sqft. The premium segment project will offer 450 units with ticket prices ranging from Rs 75 lakh to Rs 1.8 crore. “The senior living project will be launched in the second quarter (Q2) of FY25 while the Jaipur premium housing project Ashiana Elite Homes will be launched in Q3. We are planning to launch the kid-centric housing projects in the fourth quarter of FY25,” Gupta said.

Scouting for land in Greater Noida

Gupta said that Ashiana Housing plans to expand its presence in Delhi NCR and entre the Noida-Greater Noida real estate market.

“We plan to bring a senior living project in Noida-Greater Noida region as it has huge potential. We are scouting for land in Noida, Greater Noida and Noida Extension regions. We have also bid for the e-auction of a land parcel in Greater Noida area,” he said.

Gupta added that the company also plans to enter into Bengaluru and Panvel markets.

Ashiana Housing was established in 1979 and it has delivered around 23 million sqft so far. The company also has ongoing projects in seven cities including Chennai, Pune, Gurugram, Jaipur, Jodhpur, Jamshedpur and Bhiwadi.