Vaswani Group, one of the leading real estate developers from Bengaluru, is all set to invest Rs 500 crore in projects across Bengaluru and Goa, during the current financial year. These new projects include 4-5 residential and one commercial project.
The funds will be generated through a mix of PE funding at SPV level, debts and internal accruals. The company is currently in talks with 2-3 PE players for funding but refused to divulge their names. Here it deserves a mention that Vaswani group currently has projects in Mumbai, Pune, Bengaluru and Goa.
Speaking to Realty Plus, Neville Vaswani, MD, Vaswani Group said, “This financial year our prime focus will be in Bengaluru where we plan to launch two big residential projects, one commercial and 2-3 small size residential projects. Further, we have one residential project in Goa as well. Broadly, we are looking at Rs 500 crores investments in all projects.”
The company’s focus for this fiscal will be particularly in Bengaluru. Its immediate plan is to launch one residential and one commercial project in the first quarter of the current fiscal. ‘Vaswani Reserve’ at Sarjapur Road is an upscale residential project including 236 units comprising of 3, 4 and 5 BHKs. Priced at Rs 85 lakh onwards, this project mainly targets the 150-200 odd IT companies in the vicinity, and also the NRIs. The second is a commercial project named ‘Vaswani Presidio,’ located at Sarjapur road itself. The total built up area for both these projects will be about 650,000 sq. ft.
Further, towards the second quarter, the company plans to launch a high-rise residential project at Whitefield, Bangalore with a built-up area of 400,000 sq. ft. The units here will be priced from Rs 50 lakh onwards. The second will be a villa project at Sarjapur Road which will be in the range of Rs 2.5 crore to RS 4.5 crore.
Finally, in the last quarter , the company plans to launch a managed villa project in Goa whose clearances and approvals are yet to be received. Besides these five projects, the company also plans to launch 2-3 small-size non-FDI projects as and when the opportunity comes.
The funds will be generated through a mix of PE funding at SPV level, debts and internal accruals. The company is currently in talks with 2-3 PE players for funding but refused to divulge their names. Here it deserves a mention that Vaswani group currently has projects in Mumbai, Pune, Bengaluru and Goa.
Speaking to Realty Plus, Neville Vaswani, MD, Vaswani Group said, “This financial year our prime focus will be in Bengaluru where we plan to launch two big residential projects, one commercial and 2-3 small size residential projects. Further, we have one residential project in Goa as well. Broadly, we are looking at Rs 500 crores investments in all projects.”
The company’s focus for this fiscal will be particularly in Bengaluru. Its immediate plan is to launch one residential and one commercial project in the first quarter of the current fiscal. ‘Vaswani Reserve’ at Sarjapur Road is an upscale residential project including 236 units comprising of 3, 4 and 5 BHKs. Priced at Rs 85 lakh onwards, this project mainly targets the 150-200 odd IT companies in the vicinity, and also the NRIs. The second is a commercial project named ‘Vaswani Presidio,’ located at Sarjapur road itself. The total built up area for both these projects will be about 650,000 sq. ft.
Further, towards the second quarter, the company plans to launch a high-rise residential project at Whitefield, Bangalore with a built-up area of 400,000 sq. ft. The units here will be priced from Rs 50 lakh onwards. The second will be a villa project at Sarjapur Road which will be in the range of Rs 2.5 crore to RS 4.5 crore.
Finally, in the last quarter , the company plans to launch a managed villa project in Goa whose clearances and approvals are yet to be received. Besides these five projects, the company also plans to launch 2-3 small-size non-FDI projects as and when the opportunity comes.