Casagrand Plans IPO in 2022, Real Estate News, ET RealEstate

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NEW DELHI: Casagrand plans to go public next year, said Arun Mn, the company’s founder and managing director. Motialal Oswal and JM were jointly appointed as bankers for the planned IPO.

The company recently received Rs.1,200 billion in funding from international investors such as Apollo Global and KKR.

It plans to invest Rs 3,000 crore in Chennai’s residential property market and Rs 750 crore in other markets over the next year.

It also plans to strengthen its presence in Bengaluru and will invest 1,250 billion rupees over the next year. The company also intends to enter the Hyderabad market with an initial investment of Rs.1,500 billion. These two markets will contribute 35% while Chennai will contribute 65% of total sales over the next 2-3 years, the company said.

To advance its growth plans, the company plans to acquire land with potential sales of Rs 10,000 crore and has already acquired land with potential sales of Rs 6,000 crore in the last fiscal year.

The company is aiming for sales of Rs 3,750 billion this fiscal year compared to Rs 2,300 billion last year and plans to set up sales offices in the US and Dubai.

Casagrand will mainly develop affordable and mid-range luxury apartments, villas, average ticket size Rs 85 lakh. However, the company intends to focus on developing more affordable homes between Rs 25-45 lakh, it said.

Meanwhile, Staylogy, the company’s co-living space, plans to add 2,000 beds over the next three years.

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