One of the biggest investment projects lined up is Gaurs Group’s Rs 4,000-crore commercial project on 17 acres at Noida, claimed by Chairman and CMD Manoj Gaur as one of the plans to increase rental assets portfolio.
It is an enormous project, sprawling over an area of 5 million square feet of Grade-A commercial space, with allocation of 2.5 million square feet in retail, 2 million square feet for offices, and a hotel spread across more than 300 keys. Strategically placed along the Noida Expressway, it repositions itself as one of the finest commercial hubs.
He said the project will be developed under a lease model so that it can significantly increase the company’s annual rental income, which stands at more than Rs 125 crore. The CMD said construction is likely to begin before March 2024.
On the financing front, Gaurs Group would look at a combination of internal accruals and bank loans to fund the current and future investments. Gaur indicated that his company’s sales receivables are now over Rs 4,000 crore and is expected to touch Rs 5,000 crore at the close of this fiscal year.
Showing confidence about the growing demand for housing in the National Capital Region, Gaur points out that 75 days after its launch, a luxury housing project in Ghaziabad costing Rs 3,100 crore had sold out within three days.
On the back of strong demand from the consumer, Gaurs Group is looking forward to setting its first public offering within the next 18 months with an aim at further expansion of the business. The founder and managing director also expressed that Gaur indicated the company would restructure its operations with the view of SEBI regulations, especially pertaining to the norms set by the apex body of realtors.
Gaurs Group: More than three decades of presence in the real estate sector have not only given it a stamp of credibility but also reflected in sheer size, which in the case of this firm has spanned over 65 million square feet of real estate built and delivered 65,000 housing units among its ventures in shopping malls, educational institutions, and other allied sectors.
