Chennai-based real estate developer Casa Grande aspires to be among the top three builders in the South in the next three years.
“Right now, we are either in the seventh or eighth position,” said M. Arun Kumar, managing director, Casa Grande Pvt. Ltd. “We would like to move up the ladder and be placed among the top three builders in the South in next three years.”
To attain its vision, Casa Grande will take up several projects and construct 8,000-10,000 dwelling units in five cities. Till date, it has developed and delivered 2.5 million sq.ft of residential space in Chennai, Coimbatore and Bengaluru through 70 projects. Another five million sq.ft., of residential space is under construction. It will be entering Andhra Pradesh and Telangana soon.
Asked about the capital expenditure, he said they would require at least ₹6,000 crore. It would be met through bank funds, private equity and internal accruals among others.
“In the next three years, we are aiming at a sales turnover of ₹2,500-3,000 crore. This year, we hope to register turnover of ₹1,300 crore against ₹850-900 crore registered last year,” he said.
Currently, Casa Grande has 8% market share in the Chennai market and hopes to strengthen it to 10-12% over the next three years. In Bengaluru the market share will increase to 2%.
“Till now, we have been constructing only residential complexes in different cities. We have plans to develop plots and villas in Kochi and Kodaikanal. Going forward, we will build retirement homes, affordable homes and also commercial complexes,” he said.
Regarding the Casa Grande Distripark, which offers plug and play warehousing facilities at Mappedu in Tiruvallur district, he said out the 93 acres, 50 acres had already been leased out.
