Poddar Housing & Development Ltd

Poddar Housing & Development Ltd

Headed by a first-generation entrepreneur Dipak K. Poddar Housing & Development Limited was incorporated in June 28 1982. The Company is engaged in real estate construction development and other related activities. Poddar Group is one of the Pioneer in affordable housing real estate companies in the Mumbai Metropolitan Region (MMR). The Company has leveraged its rich family legacy and business experience to service the housing needs of mid and lower-income segment of the society and has delivered more than 5000 apartments. In Jul.'92 the company created a record by a bonus issue of 13.5 : 1. The company set up a 100% EOU at Thane which commenced production in 1993. In 1994 it diversified into setting up a texturising yarn unit at Silvassa. Commercial production of phase-I commenced in Jan.'95 and that of phase-II commenced in Mar.'95. It also commissioned a new unit at Saki Naka Bombay for the manufacture of cotton knits with a capacity of 600000 pcs pa.In 1995-96 the company earned a foreign exchange of Rs 18.63 cr.During 1996-97 foreign exchange earned by the company is worth Rs. 12.05 cr.The garment division of the company continued to make good profits during the year 1999-2000 although the operations of the Textile Division was suspended.The Real Estate Division of the Company commenced operations during the year 2008. The Company sold investments in Gopi Resorts Pvt. Ltd. with 100 acres land bank and Gopi Resorts Private Limited ceased to be a subsidiary of the Company. It purchased 50% of a corporation in the United States of America Organically Grown LLC for a consideration of Rs. 80 Lakhs. It purchased the shares of a newly incorporated company viz Makara Real Estate Limited.During the year 2009 the Company purchased 100% shares of Poddar Habitat Pvt. Limited Poddar Leisure Infrastructure Private Limitedand Poddar Infrastructure Private Limited. Also for the improvement of the Garment business it purchased 100% shares of Wearology LLC USA. In addition the Company set up a 100% subsidiary in Sharjari UAE called Wearology FZE. The Company launched the marketing of First Affordable Housing Project 'Samruddhi Complex' on 16th March 2010 at Bhivpuri near Karjat in Maharashtra. On April 3rd 2011 it launched Second Housing Project at Badlapur near Kalyan. It commenced Second Phase of the project consisting of 39 buildings (589 flats) from 2 April 2012. The Company has through its 100% subsidiary Poddar Habitat Pvt. Ltd. launched in April 2013 a new Affordable Housing Project Poddar Navjeevan at Atgaon near Kasara which included First Phase of 36buildings consisting 1 RK and BHK Flats. During the year 2017 Poddar Housing FZE ceased to be a Subsidiary of the Company and no other Company ceased to be a Subsidiary Joint Venture or Associate company of Poddar Housing and Development Limited under consideration. During the year 2017-18 the Company completed the construction of its one project known as Samruddhi Evergreens Badlapur IV-A located at Badlapur. It launched sales of its 1st Mumbai City bound project known as Poddar Spraha Diamond at Chembur.In April 2019 it launched Poddar Wondercity at Badlapur and Poddar Riviera at Kalyan in 2020.During the year 2022 Project Poddar Wondercity was relaunched and the work restarted during October 2021 the project was approved under UDCPR and due to which there has been an increase in the potential upto 30 Lakh Sq. ft. During the year 2021-22 the Company incorporated two wholly owned subsidiaries: Poddar Buildcon Private Limited & Poddar Buildtech Private Limited.