 "initial public offering, IPO")
Chennai-based real estate firm Grand Housing has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO).
The offering consists only of the offer-for-sale (OFS) component. The company’s promoter, Vijay Surana J, will be selling about 3.55 crore of his shares with a face value of Rs 5 per equity share in the company. As on the date of the DRHP, Surana held an 87.84 per cent stake in the company with about 28.04 crore equity shares of Rs 5 each.
Incorporated in 2004, the company is a real estate developer with a primary focus on plotted developments in Tamil Nadu, particularly in and around Chennai. As part of its business, the company acquires parcels of land and builds basic infrastructure such as roads, power connections, sewage, and water supply, thereby converting it into developable land. The company has also worked to acquire contiguous parcels of land in some cases to create larger areas that are more economically viable for further development.
Its plotted developments are divided into two segments — the residential segment, comprising the development of residential plots, and the industrial segment, comprising the development of large contiguous land parcels to be used for industries.
The company develops and sells residential land plots mainly to homeowners for the construction of houses and villas. The sizes of its residential plots typically range from 600 square feet to 2,400 square feet, with the price of an individual plot ranging from Rs 1,500 per square foot to Rs 5,000 per square foot.
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As of March 31, 2025, the company’s land reserves comprised approximately 1,908.52 acres of land, excluding ongoing projects, completed projects, and upcoming projects.
The company’s revenue from operations was Rs 156.66 crore during the financial year 2025 (FY25), compared with Rs 94.61 crore during FY23. Its net profit was Rs 84.59 crore during FY25 against Rs 30.92 crore during FY23.
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