The investment for 2020 is expected to be Rs 2,500 crore. This will be for its residential, commercial, education, retail, hospitality and healthcare projects.
NCR-based Gaurs Group is planning to invest Rs 10,000 crore over the next five years for its residential, commercial, education, retail, hospitality and healthcare projects. It may also consider sunshine sectors such as co-working, service apartments and co-living, Managing Director Manoj Gaur told reporters.
"We have completed and delivered more than 50,000 units in the last 25 years. Now, we are targeting to deliver another 50,000 units in the next five years. We will increase our focus in commercial segment which has performed better than the other asset classes," he said.
"Of the Rs 10,000 crore, 50% will be for residential and remaining 40 percent for commercial and another 10 percent will go to schools. Some funds have also approached us for the rental business. We will be delivering 8 million sq ft in 2020, it accounts for almost 8000 homes. The investment for this year is expected to be Rs 2,500 crore," said company's director Sarthak Gaur.
These projects would be mainly at Noida, Greater Noida, Yamuna Expressway and Ghaziabad in Uttar Pradesh.
He claimed the company's sales bookings have been strong despite demand slowdown in the housing market. Sales booking jumped to Rs 4,000 crore from Rs 1,600 crore in the previous year, he said.
The company also has plans to foray into Dehradun market with a mixed-use project On the commercial segment, Manoj Gaur said the company has so far developed about 25 lakh sq ft of commercial area of which around 15 lakh is under the lease model.
"We plan to develop 10 million sq ft of commercial space in the next 5 years. We have a rental income of Rs 100 crore currently and target is to touch Rs 400 crore in the next five years," he said.
Asked if the company plans to take the IPO route, Gaur said that there were no plans in the offing but said the
About the company's turnover and debt, Gaur said the turnover fluctuates between Rs 1,200 crore to Rs 2,000 crore depending on revenue recognition based on area completion, while its debt is around Rs 2,000 crore.It currently has projects in Noida, Greater Noida West, Ghaziabad and Yamuna Expressway.
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