Hyderabad: Hyderabad-based real estate company, My Home Constructions, which has so far delivered over 20 residential projects in Hyderabad in 35 years of its journey, is focusing on large development projects ranging from 15 to 20 acres, in both residential and commercial space.
The Rs 3,200-crore company is initiating a commercial project at Kokapet, which the company sees will be among the largest office spaces in Asia with over 27 million square feet of space. This is being constructed using eco-friendly precast construction technology. The project is being created as a life hub where every member on the campus will have an enhanced experience with amenities to unwind, food and beverage and other facilities. The IT hub will be developed on a leased model.
At Tellapur, the company’s projects — My Home Ankura (first villa project) and My Home Tridasa (premium lifestyle apartments) will include educational, retail, and entertainment facilities making it a holistic living experience.
Shyam Rao Jupally, MD, My Home Constructions, told Telangana Today, “We will be focusing on the entire spectrum of real estate right from Rs 80 lakh residential properties to Rs 3 crore properties, ranging from 1,200 sq ft to 4,000 sq ft size apartments. There is space for every size apartment in the Hyderabad market from affordable houses to premium houses.”
“Post Covid, focus on owning a house has grown. People have started realising that the time they spend in their home has become more and this is one space where they have to stay invested. This is going to impact real estate space positively. We are geared up to provide that,” he added.
When asked if the company will look at opportunities in other districts of Telangana and other States, going beyond Hyderabad, Rao said, “Each project is like setting up a new factory. We have to start with acquiring land and obtaining approvals. It takes a lot of effort. In 3-5 years, we will look at entering into the other districts of Telangana. We may look at Bengaluru and Pune in future and explore them as secondary markets.”
In the next one year, Rao said, there could be a slowdown in commercial space due to Covid. But in the next 3-5 years, commercial space will account for 50 per cent of the company’s business revenues. There is going to be a new trend, wherein real estate development will shift from standalone office space and retail to campuses to adopt changing and dynamic environments and situations.
On the co-working space front, he said, post Covid, the segment has seen a lot of demand as companies are looking to reduce capex and take work-based contracts and commit only to those spaces. There is a great potential in this segment. “We may not get into running a co-working space as it is a service segment. We will explore other opportunities in this segment as they emerge,” he added.
Highlighting innovation and technology, Rao said that the company is adopting new technologies in office space. In its Sky View project, post Covid, the company has introduced several aspects such as making alterations and upgradations in the air filtration technology, which ensures the virus doesn’t spread. In future projects, the filtration technologies will be made inclusive.
When asked if the company is engaged in talks with private equity and venture capital firms to meet expansion needs, he said, “We see synergies, not just capital. We have done partnerships in the past wherever there were synergies. We are always in talks with companies wherever there is a fitment to a project.”