Casa Grande eyes top 3 slot in South India

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CASA GRANDE EYES TOP 3 SLOT IN SOUTH
By thehindu.com
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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.