Mumbai, Sept. 2 -- Gaurs Group has acquired 35-acre land parcels along the Yamuna Expressway from ICICI Bank for around Rs 7 bn to develop residential projects as part of an expansion plan. The company purchased three land parcels in Sector 18 at an open auction and the largest plot measures 24 acres. The acquisition was reported to be on an as-is, where-is basis with the developer confirming it would settle outstanding dues including external development charges and farmer compensation.
The group plans to use the 24-acre site as the primary location for a new launch and intends to roll out three to four housing projects by March next year across Noida and the Yamuna Expressway corridor. The company has already launched one housing project on the expressway during this fiscal with a total revenue potential of Rs 19 bn. Management indicated that the launch pipeline underpins expectations for pre-sales performance in the 2026-27 fiscal.
Gaurs Group reported sales bookings of Rs 55 bn in the last fiscal year and said it was aiming to replicate or exceed that performance in the coming year. The developer attributes sustained demand to limited new supply from established builders in Noida, Greater Noida and Ghaziabad. Plans are also under way to expand the rental asset portfolio and to initiate a large commercial project in Noida.
At present the group earns rental income of around Rs 1,500 million (mn) per year from commercial assets including shopping malls. In nearly three decades the company, operating as Gaursons India Private Limited, has developed over 100 million (mn) square feet and delivered more than 75,000 homes across 75 projects, including three integrated townships. The developer has diversified into retail, education, sports and solar energy sectors.
Published by HT Digital Content Services with permission from Construction World.