"Adarsh Group Announces Investment of ₹2,000-2,500 Crore in Residential and Commercial Ventures"

Bengaluru-based real estate firm, Adarsh Group, has unveiled ambitious plans to invest between ₹2,000 to ₹2,500 crore in the development of both residential and commercial projects. The announcement was made by BM Jayeshankar, Chairman and Managing Director of Adarsh Group of Companies.

In the commercial real estate sector, the primary focus will revolve around Grade A IT office parks, with construction expected to commence within a year's time. The funding for these ventures will be secured through financial institutions, banks, and internal accruals over the course of 12 months, as outlined by Jayeshankar.

Having amassed 35 years of experience in the industry, Adarsh Group is currently engaged in projects encompassing a total saleable area of over 15.5 million square feet. This includes ongoing apartment projects covering 8 million square feet, plotted developments spanning 3.70 million square feet, and villa projects totaling 3.1 million square feet—all slated to be made available within the next 2 to 3 years.

The company is steadfast in its commitment to bolster its presence in Bengaluru, where it has already successfully completed over 23 projects, spanning more than 19 million square feet.

In the fiscal year 2023, Adarsh Group achieved an annual turnover of ₹2,700 crore, affirming its status as a profitable entity. The firm's current portfolio is primarily dominated by residential projects, constituting 90 percent of its endeavors, with the remaining 10 percent dedicated to the hospitality sector.

In the residential sector, Adarsh Group typically focuses on mid-high-end projects with an average ticket size of ₹1.5 crore, with the majority of its offerings comprising 3 BHKs and 4 BHKs. Additionally, the company has recently ventured into the affordable housing segment.

Founded in 1988 by BM Jayeshankar and BM Karunesh, Adarsh Group's journey has been marked by continuous success and unwavering customer trust. Reflecting on this journey, BM Jayeshankar expressed, "Our enduring success is a testament to the trust our team members and cherished customers have vested in us throughout this remarkable journey. Our success comes from our continuous faith in the excellence of our projects, and this is something we will remain committed to in the future as well."

HBL