In the next three years, Sattva Group will invest Rs 12-14K crore to advance various infrastructure

In the next three years, Sattva Group will invest Rs 12-14K crore to advance various infrastructure

Bengaluru-based Sattva Group is one of India's leading real estate developers, having completed 140 projects totaling 80 million square feet in the last 30 years.

The real estate company Sattva Group is in negotiations with PE giant Blackstone to establish a REIT to monetarily generate commercial properties, and it plans to invest between Rs 12,000 and Rs 14,000 crore over the next three years to construct residential, office, and hotel projects.

Based in Bengaluru One of India's top developers of real estate is Sattva Group. In the past 30 years, it has finished 140 projects totaling 80 million square feet. There are now about 23 million square feet under development and 65 million square feet planned.

Sattva Group Managing Director Bijay Agarwal stated, "We are very bullish on the real estate market," during a news conference held here. Over the next three years, we want to invest between Rs 12,000 and Rs 14,000 crore in the residential, commercial, and hotel sectors."

The investments will be supported by stock, debt, and internal accruals, he stated, adding that the corporation may obtain equity money at the project level if necessary.

According to Agarwal, there has been a significant increase in demand for residential real estate following the COVID-19 outbreak, and office leasing activity has also resumed. According to him, the business intends to start a project in the second half of the current fiscal year and will enter the Mumbai housing market this year.

Simpliwork Offices and Colive, the company's joint ventures for co-living and co-working, have been growing and operating well, according to Agarwal.

"We plan to list our coworking and coliving businesses on stock exchanges in the next 2-3 years by launching public issues," Agarwal stated.

More than 50% of Colive and Simpliwork are owned by the Sattva Group.

When questioned about its plans to form a Real Estate Investment Trust (REIT), he stated, "We are in the early stages of discussions with Blackstone."

Agarwal did not provide a date for the public offering of REITs to monetize commercial assets constructed jointly by Sattva Group and global investment firm Blackstone.

Sattva Group and Blackstone have a combined portfolio of about 32 million square feet, with 18 million square feet currently constructed.

India has four listed REITs, three of which are backed by rent-yielding office buildings, and one of which has a large portfolio of retail malls.

Sattva Group's Vice President (Strategic Development), Shivam Agarwal, stated that the business is searching for expansion prospects across geographies and real estate sectors. Adrija Agarwal, VP (Business Development) of Sattva Group, stated that the firm owns two hotels in Kolkata with around 620 keys.

The company is developing the Taj Luxury Resort in Bengaluru, with 294 keys and 60 villas. "We want to increase our hotel company. "We are in talks for a few more deals," Adrija stated. When asked about group rental revenue, Sattva Group VP Pradeep Kumar Dhandhania stated that the annuity income was about Rs 2,000 crore the previous fiscal year, and the business expects a 20% increase this fiscal year.

Sattva Group has completed 80 million square feet of area in three decades, including 45 million square feet in commercial and 35 million square feet in residential.

Sattva Group has completed 20 million square feet in Bengaluru in the commercial market, with another 5 million square feet under development.

Sattva Group has constructed 25 million square feet of commercial space in Hyderabad, with another 3 million square feet under construction at HITEC City. The managing director stated that the business will shortly begin development on 4.5 million square feet of office space in Chennai. In Pune, 1 million square feet of commercial space is under development.

Do you Like Our Article ? then View more of us: