Ashwin Sheth Group to expand its commercial and retail portfolio

Ashwin Sheth Group, one of Mumbai’s leading real-estate developers, plans to expand its commercial and retail portfolio by foraying into newer geographies outside Mumbai. On Thursday, January 9, 2020, Chintan Sheth, Director, Ashwin Sheth Group, announced the company’s plan to foray into other cities of India, which includes a combination of tier I and tier II. Going forward, Ashwin Sheth Group will focus on all the three segments - residential, commercial and retail. To begin with, the company on Thursday announced the launch of a new commercial project - Cnergy Thane (MahaRERA No: P51700023047), at Thane’s Platinum Belt, next to Viviana Mall. Adjacent to the planned commercial project, Ashwin Sheth Group already has its residential and retail projects such as Sheth Zuri, Sheth Avalon, Sheth Vasant Lawns, Viviana Mall, etc. Earlier this decade, the company had successfully developed a luxury Grade-A commercial office space tower at Prabhadevi by the same name, Cnergy. Cnergy Thane is strategically located, intelligently designed and will be equipped with technology driven facilities. This latest commercial landmark has been meticulously planned with the same vision behind iconic Cnergy Prabhadevi. With a cumulative office space of over 2 lakh sq. ft., with office sizes starting from 550 sq. ft. to an entire floor of around 10,000 sq. Ft, this Grade A commercial tower will offer spaces to start-ups as well as corporates and multi-national companies. Currently, almost 95% of the company’s portfolio is residential and the balance is shared between retail and commercial segments. In the future, Ashwin Sheth Group’s 70% of the portfolio will be residential and the balance is a mix of retail and commercial. Detailing about company’s capital expenditure plans, Mr. Chintan Sheth, Director, Ashwin Sheth Group said, “In order to expand the company to more than double its present size, about Rs 2,000 crore will be invested in the next five years to create a healthy mix of housing, commercial and retail segments. The plan will help in the company touching a portfolio of Rs 10,000 crore, from the present Rs 4,000 crore.