Ashwin Sheth Group Unveils Rs 5,000 Crore Investment and IPO Plans

Realty firm Ashwin Sheth Group announced an investment of around Rs 5,000 crore to expand its business and plans to launch its maiden public issue in the next 18-24 months. The company achieved sales bookings of Rs 1,500 crore last fiscal and aims to double this to Rs 3,000 crore in the current fiscal.

Realty firm Ashwin Sheth Group on Tuesday announced a significant investment of around Rs 5,000 crore to expand its business. The company plans to launch its maiden public issue within the next 18-24 months, according to the firm's CMD, Ashwin Sheth.

The Mumbai-based company reported sales bookings of approximately Rs 1,500 crore during the last fiscal year, marking a threefold increase from the 2022-23 financial year. 'We aim to double our sales bookings to Rs 3,000 crore in the current 2024-25 fiscal,' Sheth told reporters.

In addition to a focus on the Mumbai Metropolitan Region, Ashwin Sheth Group is foraying into Bengaluru and Delhi-NCR, with considerations to enter Hyderabad, Chennai, and Goa. The company is also set to diversify into segments like warehousing. Founded in 1986, Ashwin Sheth Group has developed over 80 luxury projects in India and Dubai.

(With inputs from agencies.)