Chennai: South India’s leading real estate developer, CASAGRAND today announced their plans of going public along with other key growth plans. Addressing the media in Chennai, Mr. Arun Mn, Founder and Managing Director of CASAGRAND announced that the company is planning to strengthen its presence in Bangalore and enter the Hyderabad market with an initial investment of Rs. 1500 crore. In order to fuel their growth plans, the company plans to acquire a total land parcel worth of potential turn of 10,000cr and has already acquired 6000 cr in the last fiscal.
Highlights from the announcement made by Arun Mn, Founder, and Managing Director, CASAGRAND:
- The company aims to achieve a sales target of 3750cr in comparison to last year’s 2300 cr and plans to establish sales offices in the USA and Dubai.
- The company plans to invest a total of 5000 cr in the residential real estate market – Chennai 3000 cr, Bangalore 1250cr other markets 750 cr.
- The company is going to strengthen its presence in Bangalore and Hyderabad, these two markets will contribute 35% while Chennai will contribute 65% of total revenue.
- The company will majorly develop affordable and mid-luxury apartments, villas, with an average ticket size of 85L. However, the company intends to focus on developing more affordable houses ranging between 25-45L.
- Adding 25 million sq. by 2024.
- He also mentioned that the company aims to go for IPO by next year. Motialal Oswal and JM were jointly appointed as bankers for IPO. Recently, CASAGRAND has received funding of 1200 cr
- Received funding from International investors like Apollo Global and KKR
Update on CASAGRAND group companies:
- CASAGRAND PropCare to grow by 250- 300 crore from the current 100 crores by
- Staylogy, CASAGRAND’s Co-Living space to add 2000 beds in the next 3 years
- CASAGRAND Distripark is rechristened as CASAGRAND SpaceIntell with an aim of building 10-12 million sq.ft of industrial warehousing in the next three years.
- CASAGRAND Bizpark division will continue to focus on developing and owning rent yielding IT and office spaces of 5 million sq. ft
Speaking on the company’s achievements during the pandemic, Arun Mn, mentioned that the company was successful in achieving its sales targets, resuming its operations post lockdown.
During the interaction, he also highlighted the measures taken by the company to protect its employees during the pandemic –
- During both the lockdowns all the employees received full salary
- In light of acknowledging the employees’ efforts in achieving the inspiring sales targets, the company offered international trips to 700 of its employees to Dubai, 900 employees to Abu Dhabi.
- Provided special care to all the employees during COVID
- Placing employee’s safety and wellbeing as the top most priority, the company also organized free COVID vaccination drives to all its employees across offices and announced a slew of measures for its employees, namely extending vaccination drives to the employees’ immediate family members.
- CASAGRAND provided flats to the family members of the employees who passed away due to COVID19 and also supported them by providing another livelihood.
- Current Employee strength of the company –
- 2000 in CASAGRAND
- 5000 in Propcare
- 6000 laborers at site
- 500 in all other group companies
As a responsible corporate citizen, CASAGRAND also believes in many CSR activities which include –
- CASAGRAND Aspiring Stars Program which provides sponsorships to young budding athletes
- Felicitated all athletes of Tamil Nadu who participated in Tokyo Olympics, 2020
- No child goes hungry movement by CASAGRAND group
- Took care of the entire labour team during the pandemic