K Raheja Corp Homes Achieves Over Rs1100 Cr Revenue in Single Qtr
K Raheja Corp Homes, the residential business of the K Raheja Corp group, delivered a record breaking, pre-formal launch sales revenue of INR1100Cr, through its single project Raheja Modern Vivarea in under 90 days, in Q4FY23. The performance sets the stage for an exciting line up of soon to launch luxury projects, focussed on the micro-market of upscale Juhu. Raheja Modern Vivarea has seen tremendous demand backed by the Company’s earned repute and expertise in luxury development, through its marquee high-quality luxury projects Raheja Vivarea and Raheja Artesia, developed and delivered as per schedule, in the South-Mumbai micro market. Raheja Modern Vivarea which strengthens the brands holding in the Mahalaxmi micro-market soft launched only in the last quarter of FY23, and has seen apartments sold in the range of 90,000 per sq. ft. The business has seen an uptick in pricing in the Mumbai market, which is expected to continue to point north. With good connectivity, beautifully designed spacious residences, and a host of lifestyle amenities, Raheja Modern Vivarea is poised to be one of the most coveted and landmark developments in Mahalaxmi. The project will house only 2 luxurious towers, with each home having views of the Golf Course, Racecourse and Arabian Sea. Spread across 10 lakh square feet of total saleable area, the towers will have a selection of 3- and 4-bedroom apartments, which can be tailored to suit specifications, and offer bespoke living experiences ranging up to 8500 sq.ft. carpet per family. Each apartment will have a massive in-room 12.5 feet floor to floor height adding to the expanse of the home. The project is positioned to congregate business leaders of corporate India. The Company has an earned repute for quality and timely delivery, a case made with Raheja Vivarea’s 5th tower delivery timeline of 3 years, honoured despite the uncertainties of the pandemic. Commenting on the performance, Ramesh Ranganathan, CEO, K Raheja Corp Homes said, “Amid volatile macro environment, K Raheja Corp Homes has delivered a strong sales performance, led by Raheja Modern Vivarea. We are seeing an increasing demand for luxury and ultra-luxury apartments with modern living amenities, along with a focus on developer’s repute. Our sales forecast is strong, as we accelerate our highly accretive development growth, with our upcoming projects in the very key micro-market of Juhu. The bull run in Indian luxury residential market is boosting property sales, which has augured well for business. We are well positioned in the year ahead, to deliver value given our scale, residences benchmarked to global standards and our embedded growth potential.” While the South Mumbai market continues to remain a prime focus area, the company is all set to create a mark in other luxury dominant micro markets of Mumbai. The Company has two premier developments lined up in Juhu, one of which being a beach-front development. The two new projects are on the golden mile of Juhu situated on the stretch between JW Marriott and SOHO House, an established upscale locality situated on the western coast of Mumbai. Connectivity with Juhu is getting beefed with the coastal route poised to offer seamless access from South Mumbai to the Western suburbs, as the Bandra-Versova sea connection project progresses. The Juhu projects are also set to gain from the 1.65 km 4 Lane flyover from the Juhu Ville Parle Development scheme circle to Mayor Hall, which is poised to cut commute time from Juhu to Western Express Highway to 10 minutes. The new projects in Juhu will stand true to the reputation of the Company and will include a wide range of world-class amenities slated to encourage active, social and connected living. They will include all modern-day indulgences ranging pools, play areas, landscaped lawns, sports offerings and more. Emphasizing commitment towards sustainable development, the projects will meet all pre-requisites for an IGBC certified home, in line with the group’s larger commitment to imbibe sustainability across all its projects. With increased consolidation, buyers are increasingly choosing developers of repute, and K Raheja Corp Homes is well positioned to capitalise on the opportunities, delivering value to the entire ecosystem of stakeholders.
Tags : K Raheja Corp Homes residential business K Raheja Corp group launch sales Ramesh Ranganathan CEO K Raheja Corp Homes