Real estate firm Akshaya plans expansion

PTI Chennai | Updated on October 18, 2011 Published on October 18, 2011

Real estate developer Akshaya has chartered out plans for the next five to 10 years with an aim to strengthen its presence in South India.

The expansion plan is also part of the city-based firm’s foray into new verticals like developing commercial properties, information technology parks, healthcare and schools.

“Next five years to 10 years we will be in these businesses — healthcare, commercial property, retail, schools... it may be through township projects...” Akshaya Chairman and CEO, Mr T. Chitty Babu, told reporters here today.

The company has been engaged in developing various real estate projects during the last 16 years and predominantly focused on residential units.

“We want to be in commercial projects, retail, healthcare and schools... Last year, we touched Rs 200 crore this year, we expect to reach Rs 350 crore... We are aiming to reach Rs 1,000 crore by 2015...”, he said after unveiling the company’s new logo.

Elaborating about the “rebranding exercise” for which the company has spent around Rs 10 crore, he said: “We have taken a conscious decision. Our earlier name (Akshaya Homes) was saying only about our residential properties, but with the new logo we will be doing other businesses also.’’

The company’s future projects would be based on green building concepts, Mr Babu said, adding that Crisil would rate its projects regularly.

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Published on October 18, 2011
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