Satra to invest 1,000 cr in 4-5 yrs, expects 2,500 cr revenue

Realty player Satra Group plans to invest around Rs 1,000 crore over the next five years and is expecting its revenue to touch Rs 2,500 crore.
The realty firm which has several projects in pipeline would spend on acquiring land and creating a portfolio of nearly 4 million sq ft in next 4 to 5 years.
"Our current focus is establishing our business in Mumbai metropolitan region, which has a huge scope of growth. We have envisaged an investment of nearly Rs 1,000 crore that we plan to spend over the next 4-5 years for buying land parcels as well as for completing construction of our projects," Satra Group Chairman and Managing Director Praful Satra told reporters here today.

He further added that the investments will be used for creating a portfolio of nearly 4 million sq ft, including residential and commercial space, over the period.
"Considering the completion of these projects over the next 4-5 years, we are hopeful that our revenues will grow to nearly Rs 2,500 crore by 2019-20 on consolidated basis," he said.
The company has also launched its ultra-luxury project 'Limited Edition 88' in Bandra near the iconic Bandra-Worli sea link entailing an investment of around Rs 250 crore.

The 26-storey tower will comprise 81 four-BHK apartments ranging from 4,116 sqft to 4,364 sqft, starting from Rs 12 crore onwards.

"This project itself has the potential to generate revenue of about Rs 550 crore over the next 2-3 years on consolidation basis," Satra added.
The company has developed and delivered spaces of more than 2 million sq ft in Calicut, Bhopal and Jodhpur apart from Mumbai.