Casagrand to invest Rs 8,000 cr to develop projects in Maha over next 3 yrs

Chennai-based Casagrand on Monday said it plans to invest Rs 8,000 crore to develop realty projects in Maharashtra over the next three years.

The company said it plans to develop 20 million square feet in Mumbai and Pune as part of its expansion plan.

It, however, did not share any specific detail on the plans. The announcement comes close on the heels of Bengaluru-based Prestige Group entering the Mumbai real estate market by launching or announcing projects.

The nearly two-decade-old company claimed it is among South India's top three builders, and has initiated an aggressive expansion plan. The company is set to deliver over 140 projects and 40,000 homes in Chennai, Bengaluru, Coimbatore and Hyderabad in 2023, according to a statement.

Its founder and managing director Arun Mn said it has delivered 123 projects on time, and it is targeting to increase the sales value to Rs 7,200 crore in FY24 as against Rs 4,200 crore in FY23.

He further said that it is sending 1,400 employees on a trip to Australia as an appreciation for achieving its targets.

The company also appointed former cricketer Sourav Ganguly as its brand ambassador.