Sangam Lifespaces Expects Rs. 6000 Cr as Revenue within Next 5 Years
The real estate arm of well-known Sangam Group, Sangam Lifespaces is expecting to earn the revenue of whopping Rs. 6000 Cr over the next five years and planning to invest Rs. 1200 Cr to expand their presence over the next few years to come, according to a senior company official. Currently leading in the mega cities, the company has been developing around a million sq ft. Now, it is seeking to double their portfolio to around 2 million sq. ft. of development over the 5 years to come. Despite the slowdown, the developer has set great standards especially on the middle and upper middle segments.
The developer is witnessing great demand of real estate from such segments and they are confidently looking forward to achieve the landmark of Rs. 6000 Cr as revenue over the next five years to come, according to Manun Thakur, Director, Sangam Lifespaces. According to him, the company is investing Rs. 1200 Cr within next 5 years to double their portfolio from 1 million sq. ft. to around 2 million sq. ft. of landscapes and they are entering the JDA agreements (Joint Development Agreements). Today, they have 4 projects under belt in Mumbai with the portfolio of around Rs. 2000 cr.
Two of these projects are based on slum rehabilitation – one in Andheri and another in Bandra Kurla Complex. One joint development project is located in Goregaon and another is in Prabhadevi. They have ventured the market as an investor and taking over the project. They found JDA safer option than green field development. According to him, projects spread on 1 million sq. ft are about to be completed within three years to come. The company is going to invest their funds to acquire the land at some promising locations and for joining hands with landowners there for joint construction. Along with Mumbai, Sangam is also trying to spread its presence in Goa and Rajasthan.
Sangam Group was founded in the year 1985 and it has now become the face of success in real estate industry in India. They have well-flourished presence in Steel Manufacturing, Education and Textile industries.