Niranjan Hiranandani News [Plans to Invest Rs 3K Crore]

Niranjan Hiranandani News

In recent Niranjan Hiranandani news, the renowned real estate tycoon has announced a bold initiative to inject Rs 3,000 crore into expanding the Hiranandani Group's project portfolio in the upcoming fiscal year. This strategic move comes as the company anticipates a substantial 25% year-on-year growth in its residential real estate segment.

The latest Niranjan Hiranandani news highlights the Group's intent to explore joint venture and development agreements, aiming to extend its footprint into promising regions. These areas are carefully selected based on factors such as connectivity, infrastructure development, market demand, and an established customer base.

Niranjan Hiranandani, the visionary chairman of the Hiranandani Group, expressed confidence in the current market conditions. In a statement to the press, he noted the positive reception of their projects and the overall bullish sentiment in the real estate sector. This optimism forms the backbone of the Group's ambitious growth targets for FY25.

Another exciting piece of news revolves around Eleva by Hiranandani, the Group's development management consultancy. Eleva is set to broaden its presence in Mumbai with three new residential projects, adding to its existing ventures in Oshiwara and Versova. This expansion aims to solidify the company's position in the bustling Mumbai real estate market.

The news about Niranjan Hiranandani doesn't stop at residential projects. The Group's data centre arm, Yotta Data Services, is also making waves with its expansion plans. Two new buildings are being added to the 'D1' data centre in Greater Noida, while work on an 'edge' data centre in Guwahati is set to commence. Both these projects are slated for completion by the end of 2024, marking a significant step in the Group's diversification strategy.

In this latest round of news, the Group's focus on financial prudence is evident. The company emphasizes its efforts in margin optimization and highlights the self-sustaining nature of its projects once they achieve 30-35% of sales. This approach, coupled with support from financial institutions, ensures the timely completion of ongoing developments.

As the real estate sector continues to evolve, Niranjan Hiranandani news will undoubtedly remain at the forefront of industry discussions. With a projected annual growth rate of 20-25% for FY25, excluding Eleva's turnover, the Hiranandani Group is poised for an exciting phase of expansion and innovation.

This news about Niranjan Hiranandani underscores the Group's commitment to driving growth in India's real estate sector. As the company embarks on this ambitious journey, industry watchers and potential homebuyers alike will be keenly following future Niranjan Hiranandani news for updates on these transformative projects.

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