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Smartworld Developers Pvt. Ltd. situated in Gurgaon will invest Rs 3300 crore in FY 24 to build three projects totaling 11.5 million square feet. The company reported sales of Rs 3500 crore in FY 2022–23 and it is anticipated that they will double to Rs 7,000 crore in FY24 as a result of its intentions to enter two new locations with premium to luxury projects.
In an interview captured by ET Realty, the CEO of Smartworld Developers, Vivek Singhal confirmed the company’s plans to expand to Noida and Bengaluru and reach a sales target of Rs 7,000 crores for FY23-24.
The company sold roughly 1438 residential units totalling 2.87 mn sq ft in FY23. Smartworld launched a high rise residential building on the Dwarka Expressway in Sector 113 in FY 23. The corporation is investing roughly Rs 1700 crore in the project's development and anticipates earning Rs 5300 crore in income from it. The project spans 16 acres and has 3.9 mn sq ft of saleable space.Their two premium projects; Smartworld Orchard and Smartworld Gems are on track for early completion with an anticipated handover by Q3 this year.
The company received funding from Motilal Oswal to the tune of Rs 250 crore earlier in the year which is being used to expand the business. Piramal Group and IIFL are other notable investors who are said to have given the company approximately Rs 400 crores a few years ago. Their investment was returned to them in accordance with the agreed-upon timeline, thereby cementing Smartworld Developers Pvt Ltd as a force to be reckoned with.
Smartworld Developers Pvt. Ltd is a real estate development company based in India, founded in 2008. The company specializes in developing high-end residential and commercial properties and has established itself as a prominent player in the Indian real estate market. Smartworld Developers is committed to providing its customers with world-class infrastructure and amenities and has earned a reputation for delivering projects on time and to the highest quality standards. The company's portfolio includes a range of properties, from luxury villas and apartments to state-of-the-art office buildings and retail spaces. With a focus on innovation and sustainability, Smartworld Developers is poised to continue its growth trajectory and remain a leader in the Indian real estate industry.
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