NCR-based Trident Realty has raised Rs 1,200 crore through sales of assets, including Shipra Mall in Ghaziabad and a land parcel in Gurgaon, as part of plans to focus on its residential business and exit non-core assets, said people close to the development.
The company plans to use the proceeds to strengthen its residential portfolio, as it has lined up for launch projects worth Rs 15,000 crore in 2024-25.
“In line with our strategy to focus on residential real estate, we have also divested our non-core commercial projects across the NCR (National Capital Region),” as per SK Narvar, group chairman, Trident Realty.
The company, which has entered into a joint venture with DLF for a 3.5 million square feet project in Mumbai, is also planning projects on the Dwarka Expressway, Golf Course Road Extension and Panipat, in addition to the next phase of its Panchkula project.
Trident Realty is currently developing Trident Hills, a 200-acre integrated township in Haryana’s Panchkula. The company has been developing projects in NCR, Mumbai Metropolitan Region and Tri-City (Chandigarh), with footprint across residential, retail, commercial and hospitality sectors.
The company has delivered about 20.34 million sq ft of residential and commercial space in high-growth centres, with an additional 12.91 million sq ft under various stages of construction.
