Ramky Estates, an arm of the Ramky group, has said that it is executing real-estate projects worth ₹10,000 crore with an aggregate space of 15 million sq ft in Chennai, Bengaluru and Hyderabad. These projects are likely to be completed in the next 3-5 years.

“We have projects worth ₹3,600 crore in 4 m sq ft are in the pipeline. We have a land bank of 1,000 acres in these three cities,” Tarakesh Rajesh Dasari, Director of Ramky Estates, has said.

Addressing a press conference here on Wednesday, he said the company had so far completed construction of 10 million sq ft of space valued at ₹3,500 crore.

Tarakesh Rajesh Dasari, Director, Ramky Estates

Tarakesh Rajesh Dasari, Director, Ramky Estates

“We are looking at a total booking value of more than ₹2,000 crore in 2023-24, with prices of residential units ranging from ₹45 lakh to ₹5 crore,” M Nanda Kishore, Managing Director of Ramky Estates, has said.

Replying to why the company chose to restrict itself to a few cities and to the residential segment, he said that the real estate industry was, by and large, local . “Commercial segment is a very highly fluctuating market. There are huge highs and lows in demand. The risk appetite has to be much high. We have decided to stick to the 90:10 ratio, 90 being real-estate and the remaining commercial projects,” he said.

The company, however, is planning to make a foray into the warehousing space, considering the burgeoning demand for e-commerce players. “We are looking at developing 3-4 million sq ft of warehousing space in the next five years,” he said.

RamkyVerse

To make it easier for prospective home buyers, the company has launched RamkyVerse, a metaverse window on Ramky’s projects in various cities. The users can look at the properties virtually, with a Ramky executive guiding them through and clearing their doubts. The facility will go on live on July 14.

comment COMMENT NOW