Sahiti Group seeing uptick in real estate demand
Hyderabad: Hyderabad-based developer Sahiti Group is seeing an uptick in demand in residential space and is launching a series of projects across Ameenpur, Kompally, Bachupally and Gachibowli, and a commercial project in Nanakramguda in Hyderabad. Post the second lock down, the company has sold over 250 units, with a sale value of over Rs 170 crore.
In the office space segment, Sahiti has built and delivered two projects in Jubilee Hills, one project each in Gachibowli and Kondapur (office plus retail) and is executing another project in Kompally. The company is actively looking at retail space as well in Hyderabad. It is following a special purpose vehicle model to meet the individual financial requirements of projects.
The company is also planning to expand into tier-2 cities of Telangana and Andhra Pradesh, to explore opportunities in residential and commercial space. Sahiti is also foraying into plotted development in metros as well as tier-2 cities.
Dr Boodati Lakshmi Narayana, CEO & co-founder, Sahiti Group, told Telangana Today, “We have executed 20 residential projects so far. We have started working on 10 residential and 10 commercial projects in the last few years, and these projects are in different stages of implementation. In the last three months, we have done good residential sales. Commercial activity has been slow, and we are thinking of converting some commercial projects into residential. We will get into Mumbai and Bengaluru soon, going beyond Hyderabad and Vijayawada.”
He added, “We are primarily catering to buyers who are seeking properties in the range of Rs 50 lakhs-Rs 1 crore. We are also offering some projects between Rs 1 crore and 1.5 crore and villa projects above Rs 2.5 crore price bracket. Last year, our turnover was Rs 680 crore and this year we are expecting a 10-15 per cent jump. We are looking at institutional funding at present and maybe post 2023, we may look at IPO or any other means to raise funds to meet our growth needs.”
New opportunities
The company finds mixed use development models to be promising. Projects at Ameenpur (4,000 units), Kompally (1,000 units) and Bachupally (1,400 units) are all large mixed use development projects, which will include hospitality, residential, retail, co-working space and other facilities. The company is aiming for green building certification for Kompally with a focus on energy & water efficiency and ventilation.
The company has worked on several commercial and residential projects totalling over 54 million sq ft in the real estate sector including the projects under construction.
Dr Lakshmi Narayana added, “We aspire to create luxury living affordable. We are implementing Salesforce to manage customer relationships. Our residential projects focus on accessibility and comfort, without compromising on the homeowners’ budget.”
Going forward, Sahiti sees opportunities in co-working and co-living. In Madhapur, the company has created serviced apartments, and there are co-living projects coming up in Jubilee Hills and Nanakramguda.
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