The Ashwin Sheth Group has decided to invest about ₹2,000 crore to build retail and commercial projects to cash in on the growing demand for such realty spaces. Director Chintan Sheth said that though there is a slowdown in the realty sector, he believes that this is the best time for developers to expand their portfolio. The company is focused on the Mumbai metropolitan region and holds a portfolio of around ₹4,000 crore, which includes 150 lakh sq ft of completed and 50 lakh sq ft of under-construction residential projects. It also has eight lakh sq ft of commercial space - including three lakh sq ft of ongoing projects and another 16 lakh sq ft of retail space. The investments would be largely funded through internal accruals and debt, informed Sheth.
📅Published on:
31 December 2019
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