Aparna planning rapid expansion in Hyderabad
Sees new opportunities in commercial, retail and mixed-development projects in Hyderabad
Hyderabad: Aparna Constructions, which has executed over 45 projects, serving 17,000 customers, is implementing several new projects in Hyderabad and planning to expand its presence in few other select cities in the country.
The company’s projects consist of fully-integrated gated communities of villas, apartments, plot development and commercial buildings and are spread over 24.5 million sq ft of built-up area and an additional 15 million sq ft under development, planning and approval stages. It is planning to build about 60 million sq ft in the next five years.
The company which will complete 25 years of its operations this October has projects spread across Hyderabad, Bengaluru and Amaravati.
Rakesh Reddy, director, Aparna Constructions & Estates, told Telangana Today, “We are growing aggressively in all the cities we are present. The south remains a key market. Apart from residential, we are getting into commercial and retail space in tier-2 and tier-3 cities in Telangana, AP and Karnataka. We have two office projects in Hyderabad under development, and we plan to take 2-3 new projects soon after that.”
Aparna is also actively looking at mixed development projects with a combination of residential, commercial and retail.
On the sector trend, he said, “Real estate is a cyclical sector. There are upswings and lows, and developers aim for return on investment throughout their business life cycle. Aparna has been following predictive modelling to foresee how the upcoming years are going to be, constantly monitoring projects and taking remedial measures whenever situations arise, to keep the financials healthy.”
Residential preferences:
On the buyer preference for large sized residential units in Hyderabad, he added, “Telugu speaking buyers always prefer big houses. If the price is in the range of Rs 3,000-4,000 per sq ft, 2BHK units are in demand. But if the threshold crosses Rs 5,000-6,000 per sq ft, they will go for 3 BHK. People prefer 2 BHK flats in the range of Rs 60-70 lakh, but once it crosses Rs 90 lakh, buyers prefer to go for a 3BHK.”
In the last one year, there has been a lot of demand for villa projects in the outskirts of the city. Aparna is looking at taking up villa projects towards the end of 2021 or early 2022, Reddy informed.
Raw material cost
Cement and steel prices had been increasing consistently. The price rise has a direct impact on the bottomline of any developer. Since Hyderabad was seeing growth, residential sales with few price revisions had in a way given a cushion to the developers.
Strategy during pandemic:
Though the initial months of the pandemic last year had an impact on real estate, things have been steady since July, he said. Hyderabad has shown consistent positivity, which is among the very few cities in the country to display growth in the residential sector when the lockdown was lifted. The year 2020 was good for Hyderabad and the city-based developers including Aparna.
Aparna is taking care of its 5,000-labourers during the pandemic and also took up vaccination of all its workers and has been sanitising the sites to ensure their safety and health.
“This year, the second wave has impacted construction activity to some extent, but by June-end the scenario may change. Aparna has been bullish. We have launched two apartment projects during early 2021 with 6,000 units between them. We will stay positive,” he added.
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