Tata Housing to launch Rs 16,000-cr residential projects in next 2-3 years: MD & CEO Sanjay Dutt
Tata Housing will launch 10 million square feet of residential projects over the next 2-3 years with an estimated revenue of Rs 16,000 crore to encash strong consumer demand, a top company official said. In an interview with PTI, Tata Realty and Infrastructure Ltd MD & CEO Sanjay Dutt sounded very bullish about the growth potential in India's housing market and said the company would be launching several projects to tap this rise in demand.
«We are launching 10 million square feet residential projects across various cities with a topline of roughly Rs 16,000 crore.»
Tata Realty and Infrastructure Ltd (TRIL) is a 100 per cent subsidiary of Tata Sons.
Tata Housing is part of TRIL.
Elaborating on the launch pipeline, Dutt said majority of these projects will be in Delhi-NCR, Mumbai Metropolitan Region (MMR) and Bengaluru.
Tata Housing will launch projects in other Indian cities as well and will also come up with its second project in Male, Maldives.
«Most of these projects will be launched over the next 24 months. We will launch plots, villas and apartments,» Dutt said.
The company is developing a large 140-acre township project 'Carnatica' in a joint venture with M S Ramaiah Realty LLP, he added.
Dutt highlighted that the company's residential business has achieved a strong revenue growth in the last five years.
«We have had a CAGR (compounded annual growth rate) of 26 per cent in residential business during the last five years and we are committed for further growth,» Dutt said.
In April, Tata Housing had said its net sales bookings grew by 40 per cent during the last fiscal and achieved its highest-ever annual residential sales.
