"DRA Homes Unveils ₹2,000-Cr Blueprint for FY25"

DRA Homes, a prominent real estate developer, has put forth a comprehensive investment plan totaling ₹2,000 crore for the fiscal year 2024-25. This decision comes as the company gears up to unveil new projects in the upcoming months.

As part of its commitment to the Chennai real estate market, DRA Homes has earmarked an initial investment of ₹500 crore. The company intends to focus primarily on the mid-segment, with properties ranging from ₹50 lakh to ₹2 crore. Additionally, it plans to introduce commercial developments, villas, and layout stocks as part of its sales strategy for FY2024-25. The proposed investment will be financed through a combination of further equity infusion, internal accruals, investments from family offices, and structured debt, as outlined in a statement.

Ranjeeth Rathod, Managing Director of DRA Homes, expressed confidence in the Chennai market's trajectory, stating, “We believe that the Chennai market has hit the inflection point of robust commercial and residential demand this year after a record 10.6 million square feet commercial absorption in 2023.”

In the pipeline are multiple villa and apartment projects slated for launch over the next 3-4 months. These projects will be situated in areas such as Karanai, Madambakkam, Madhavaram, Moolakadai, Egmore, and OMR in Chennai, collectively offering a total saleable area of 1.2 million square feet.

HBL