Adarsh Group, a real estate firm based in Bengaluru, has announced plans to invest between ₹2,000 to ₹2,500 crore in the development of its residential projects and for the launch of its commercial portfolio, BM Jayeshankar, Chairman and Managing Director of Adarsh Group of Companies, told businessline.
In the realm of commercial properties, the primary focus will be on Grade A IT office parks, and these endeavours will commence in a year’s time. Meanwhile, the investment amount will be raised via financial institutions, banks, and internal accruals over a period of 12 months, said Jayeshankar.
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Having completed 35 years in the industry, the company is currently involved in developments encompassing over 15.5 million square feet of saleable area. This includes ongoing apartment projects covering 8 million square feet, plotted developments spanning 3.70 million square feet, and villa projects totalling 3.1 million square feet, all set to be available within the next 2 to 3 years.
Furthermore, the company remains committed to strengthening its presence in Bengaluru, where it has already completed more than 23 projects spanning over 19 million square feet.
In the fiscal year 2023, the group achieved an annual turnover of ₹2,700 crore and claims to be a profitable entity. Its current portfolio primarily comprises residential projects, accounting for 90 per cent of its ventures, with the remaining 10 percent attributed to the hospitality sector.
In the residential domain, the company typically focuses on mid-high-end projects with an average ticket size of ₹1.5 crore, with the majority of its offerings falling within the range of 3 BHKs and 4 BHKs. Additionally, it has recently ventured into the affordable housing segment.
Adarsh Group was founded in 1988 by BM Jayeshankar and BM Karunesh. Reflecting on their journey, BM Jayeshankar stated, “Our enduring success is a testament to the trust our team members and cherished customers have vested in us throughout this remarkable journey. Our success comes from our continuous faith in the excellence of our projects, and this is something we will remain committed to in the future as well.”