DRA Homes, a real estate developer in Chennai, has set the stage for a remarkable transformation in the city’s real estate sector with its ambitious Rs 2,000 crore strategic investment plan for the financial year 2024-25.
In a strategic move to fortify its position in the market, DRA Homes has earmarked Rs 500 crore for expansion, signaling unwavering commitment to the development and growth of Chennai’s real estate landscape. The company plans to finance this outlay through a combination of equity infusion, internal accruals, family office investments, and structured debt.
As part of its growth strategy, DRA Homes aims to launch new projects with a substantial total inventory of Rs 2,000 crore by March 2024. The focus will be on the mid-segment, spanning from Rs 50 lakh to Rs 2 crore, with the introduction of commercial developments, villas, and layout stocks in its sales plan for FY 2024-25.
Ranjeeth Rathod, Managing Director of DRA Homes, expressed his excitement about the company’s ambitious investment plan, stating, “Building on the success of the last few years and the positive outlook of the real estate market, we are thrilled to announce our ambitious investment plan for the upcoming financial year. This reflects our confidence in the growth potential of Chennai’s real estate market and our commitment to delivering world-class projects.”
DRA Homes plans to roll out multiple villa and apartment projects in the next three to four months, targeting areas such as Karanai, Madambakkam, Madhavaram, Moolakadai, Egmore, and OMR. These projects are expected to have a total saleable area of 1.2 million sq ft, with an estimated turnover of Rs 750 crore.
Rathod highlighted the company’s belief in the Chennai market, stating, “We believe that the Chennai market has hit the inflection point of robust commercial and residential demand this year after recording 10.6 million sq ft of commercial absorption in 2023.”
DRA Homes has garnered recognition for its commitment to excellence, receiving prestigious awards such as the Times Business Award, Realty India, Times Realty Icon, Times Business Award for On-Time Delivery, FICCI REISA Award, and CRISIL 7-star grading, among others. The company distinguishes itself through a data-centric approach to decision-making, emphasising location, product design, and construction methodology.
Known as a trailblazer in South India, DRA Homes operates as the only organisation with a fully automated customer journey process, functioning as a paperless entity. The company also stands as the first developer in India to showcase a ‘Construction Time-line meter’ outside every site, bringing transparency and staying true to its motto, ‘On Time, Every Time.’
With this significant investment plan, DRA Homes aims to not only reshape Chennai’s real estate skyline but also set new benchmarks in the industry, combining innovation, transparency, and a relentless pursuit of excellence.