Hyderabad-based Ramky Estates & Farms Ltd. (REFL), the real estate arm of Ramky Group, has at least 7 new projects in the pipeline across locations including Hyderabad, Bangalore, Chennai, Vizag and Warangal. All these projects are slated to be launched sometime between January next year to August 2013. The total developable area will be close to 6.5 million sq. ft. while the overall investment is estimated to be upward Rs 1000 crores to be spread over 3 years. Funds will be generated mostly through equity, bank debts & customer advances.
Speaking to Realty Plus, M. Nanda Kishore, Executive Director, REFL, says, “Currently we are operating across products and across locations including Hyderabad, Chennai, Bangalore, Warangal and Vizag. At least 7 new projects are in the pipeline and these will be launched at regular intervals by August 2013.”
Out of the 7 new projects, 2 projects each will be launched at Hyderabad, Bangalore and Chennai and one at Vizag.
Thetwo new projects at Hyderabad include one high-rise apartment project near Gachibowli which will be spread over 1.5 million sq. ft. The investment for this project is estimated to be close to Rs 300 crores and will mainly target the upper-mid income segment. The second project, to be spread over 1.6 million sq. ft., will also be high rise apartment project at Kukatpalli. At an investment of Rs 150 crores, this project will comprise of 500 apartments & will mainly target the mid-income segment.
In Bangalore, the first residential project will come up at Electronic City on 10 acres of land and with an investment of Rs 200-220 crores. The second project, to be spread over 3.5 lakh sq. ft., will come up at Nelamangala with an investment of Rs 60 crores.
In Chennai also 2 residential projectsarelined up. These will comprise of apartments with an overall investments of Rs 250 crores.
Another projectlined up for launch is an integrated townshipat Vizag. To be spread over 28 acres, the township is still in the approval stage and will comprise ofapartments, villaments and villas. The overall investment for this is expected to be close to Rs 200 crores.
Elaborating further on the company’s expansion plans, Kishore, states, “So far, we have developed 7.5 million sq. ft. across all regions. Our target for the next 3 years is to reach 20 million sq. ft. including completed & ongoing projects across regions. Besides the above mentioned cities we are also eyeing Bhubaneshwar where we have almost finalised a couple of properties. Further, we are also looking at places like Ahmedabad & Kolkata. Hopefully, by end of next year we will enter these cities as well.”
Meanwhile, the company is also looking to venture into the education, healthcare and entertainment (multiplex and leisure & entertainment) segments.
The company’s turnover in the last fiscal (FY 12-13) was Rs 200 crores and is “looking to double it by this fiscal end,” Kishore adds.