Replying to Yash Ved of IIFL, Raj Gala Shah says "Currently we have our upcoming projects at landmark locations of Dadar west and Parel, in South Central Mumbai, both having unrestricted views of the sea and skyline."
Brief us about your current and upcoming projects in residential and commercial segments?
We have been specialising in offering customers/buyers and tenants smart-sized houses that fit well within their budgets. We have also tried to ensure that we offer locations that are competitive and appeal to them.
Currently we have our upcoming projects at landmark locations of Dadar west and Parel, in South Central Mumbai, both having unrestricted views of the sea and skyline. In both these locations we would be offering smart-sized homes that fit well within the budgets of the discerning buyer, something rare in upcoming projects in these areas.
What is the total area under development?
The total area under development for our projects in Mumbai is approximately 1 lac sq.ft.
What is your land bank?
We have procured land parcels in and around the most desired areas of Mumbai including Dadar, Parel and Matunga in South Central Mumbai and Bandra West in the western suburbs.
What are your fund raising plans?
All of the projects are financed by internal accruals arising from HNI investors and end user sales. It is our brand vision to run the company on zero-debt or minimal debt basis.
What is your outlook on real estate prices?
Real estate prices are bound to rise, but this value appreciation will happen not based on sentiments but purely on the projects location in terms of view and connectivity. In simple terms it is the location of the project that will hold its value over time and appreciate in price thus leaving projects in undesirable locations with expensive amenities empty.
Any plans for IPO?
We may plan for IPO only when we feel we can offer our shareholders strong valuations and steadily appreciating returns.