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DRA Homes, a Chennai-based real estate developer, has announced plans to invest in the fiscal year 2024-25. With a significant investment of INR 2,000 crore, the company hopes to strengthen its position and drive growth in Chennai's competitive real estate market. A considerable percentage of this investment, totaling INR 500 crore, is set aside specifically for Chennai developments, demonstrating DRA Homes' commitment to the city's growth.
This significant investment will be supported through a combination of additional equity, internal accruals, family office investments, and structured debt, ensuring a solid financial basis for the company's future growth efforts. DRA Homes is actively targeting the mid-segment market, offering prospective customers properties ranging from INR 50 lakh to INR 2 crore.
In addition to residential offerings, DRA Homes is broadening its portfolio by growing into commercial development, villas, and layout stocks to meet market demand and increase revenue streams. These strategic measures are expected to boost revenue and improve the company's bottom line in the coming fiscal year.
The company's expansion plans include the launch of multiple villa and apartment projects across strategic locations in Chennai, including Karanai, Madambakkam, Madhavaram, Moolakadai, Egmore, and OMR. With a total saleable area of 1.2 million square feet, these projects are expected to generate an estimated turnover of INR 750 crores within the next three to four months, further cementing DRA Homes' position as a key player in Chennai's real estate market.
Ranjeeth Rathod, the Managing Director of DRA Homes, expressed confidence in the growth potential of Chennai's real estate market, citing a robust commercial and residential demand trajectory. He emphasised the company's commitment to delivering world-class projects, reflecting its dedication to excellence and customer satisfaction.
DRA Homes' commitment to excellence has been recognized through prestigious awards, including accolades for On-Time Delivery, FICCI REISA Award, and CRISIL 7-star grading. The company distinguishes itself through a data-centric approach to decision-making, prioritising factors such as location, product design, and construction methodology.
Moreover, DRA Homes is leading in South India as the only organisation operating a fully automated customer journey process, thereby operating as a paperless entity. Additionally, it is the first developer in India to showcase a "Construction Time-line metre" outside every site, enhancing transparency and reaffirming its motto of delivering projects "On Time, Every Time."
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