Real estate firm Gaurs Group is planning to launch its Initial Public Offering (IPO) within the next 18 months as it seeks to expand its business amid strong consumer demand, according to CMD Manoj Gaur. Following the successful launch of its luxury housing project in Ghaziabad, which generated Rs 31 billion in sales in just three days, the company aims to broaden its footprint across the Delhi-NCR market.
Gaur stated that the company also plans to develop commercial assets, including malls, hotels, office spaces, and educational institutions, to generate stable rental income. "We are planning to launch our IPO in the next 18 months. Internally, we have started the preparation to get listed on the stock exchanges," Gaur said. He noted that both the property and stock markets are currently performing well, indicating a strong potential for expansion and growth.
As Chairman of CREDAI, Gaur emphasised the company's confidence in the continued strong demand in the real estate market. Gaurs Group possesses a land bank for real estate development and is actively exploring additional land acquisitions to expand its portfolio. While the company has enlisted financial, tax, and legal consultants for the IPO, it has not yet appointed merchant bankers.
With over three decades of experience, Gaurs Group (formerly Gaursons India Ltd) has developed more than 65 million square feet and delivered 65,000 units. The group has also ventured into allied sectors, including shopping malls, schools, hotels, solar plants, and construction. It has delivered three townships to date, including the prominent Gaur City in Noida Extension, which currently houses around 30,000 families.
Earlier this month, the company launched a 12-acre luxury housing project in Ghaziabad, comprising around 1,200 units. The project, named 'Gaur NYC Residences,' sold out within three days, achieving a total sales value of Rs 31 billion. The company plans to invest around Rs 16 billion in developing this new luxury housing project. Gaur mentioned that demand for the project was high, with more than 3,000 expressions of interest from potential buyers.
The demand for residential properties, particularly luxury homes, has surged post-COVID-19. Builders with a solid track record are experiencing increased demand for their properties. According to PropEquity, housing sales in Delhi-NCR rose to 10,198 units during April-June this year, up from 9,635 units in the same period last year.
(ET)
