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Casagrand plans for IPO in 2022, Real Estate News, ET RealEstate

Casagrand plans for IPO in 2022, Real Estate News, ET RealEstate
NEW DELHI: Casagrand plans to go public by next year, Arun Mn, founder and managing director of the company said. Motialal Oswal and JM jointly have been appointed as bankers for the planned IPO.

The company recently received funding of Rs 1,200 crore from international investors like Apollo Global and KKR.

It plans to invest Rs 3,000 crore in Chennai’s residential real estate market and Rs 750 crore in other markets in the next one year.

It also plans to strengthen its presence in Bengaluru and will be investing Rs 1,250 crore in the next one year. The company is also looking to enter Hyderabad market with an initial investment of Rs 1,500 crore. These two markets will contribute 35% while Chennai will contribute 65% of total revenue in the next 2-3 years, the company said.

In order to fuel their growth plans, the company plans to acquire land parcels having Rs 10,000 crore worth of potential turn over and has already acquired land parcels having Rs 6,000 crore worth of potential turn over in the last fiscal.

The company aims to achieve a sales target of Rs 3,750 crore in this financial year in comparison to last year’s Rs 2,300 crore and plans to establish sales offices in the USA and Dubai.

Casagrand will majorly develop affordable and mid-luxury apartment, villas, average ticket size Rs 85 lakh. However, the company intends to focus on developing more affordable houses ranging between Rs 25-45 lakh, it said.

Meanwhile Staylogy, the company’s co-living space plans to add 2,000 beds in the next three years.


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