Ashwin Sheth Group Eyes Major Expansion with Rs 5,000 Crore Investment

Realty firm Ashwin Sheth Group is investing Rs 5,000 crore to expand its business and plans to launch its maiden public issue to raise up to Rs 3,000 crore in the next 18-24 months. The Mumbai-based company aims to double its sales bookings and expand its portfolio in various regions.

Realty firm Ashwin Sheth Group on Tuesday announced it will invest around Rs 5,000 crore to expand its business and plans to launch its maiden public issue in the next 18-24 months to raise up to Rs 3,000 crore.

The Mumbai-based company reported sales bookings of around Rs 1,500 crore in the last fiscal, 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,' said CMD Ashwin Sheth.

The company plans to expand its business portfolio in the Mumbai Metropolitan Region (MMR) and is foraying into Bengaluru, Delhi-NCR, with explorations into Hyderabad, Chennai, and Goa. Additionally, the company intends to venture into other segments like warehousing. 'India's real estate market has long been a key driver of economic growth,' Sheth stated.

(With inputs from agencies.)