NewsEarningsAspect Realty Completes 1 Million Sq Ft Housing Development, Plans Mumbai ExpansionAspect Realty Completes 1 Million Sq Ft Housing Development, Plans Mumbai Expansion
Aspect Realty, a subsidiary of Aspect Global Ventures, has completed one million square feet of housing across two projects and reported a 20% EBITDA margin on key projects in Mumbai. The company successfully sold out its ₹1,200 crore Worli project 'Shivam'. Aspect Realty has a presence in Bandra East, Powai, Almeida Park, and Worli, with plans to expand to Jogeshwari, Kandivali, and Byculla. The company offers affordable homes starting from ₹1.25 crore and premium residences ranging from ₹3.5 crore to ₹6 crore. With about 100 employees, Aspect Realty is diversifying into warehousing, plotted developments, and slum rehabilitation. The company maintains a debt-free balance sheet, positioning it for future growth in Mumbai and potentially beyond.
*this image is generated using AI for illustrative purposes only.
Aspect Realty, a wholly owned subsidiary of Aspect Global Ventures, has marked a significant milestone in its real estate journey, completing one million square feet of housing across two projects. The company has also reported a robust 20% EBITDA margin on its key projects, signaling strong financial performance in the competitive Mumbai real estate market.
Successful Project Completion
One of the company's standout achievements is the successful sale of its ₹1,200 crore Worli project 'Shivam'. This luxurious development features a 57-storey, 5.5 lakh sq ft sea-facing tower, with apartments starting at ₹10 crore. The complete sell-out of this premium project underscores the strong demand for high-end real estate in Mumbai's prime locations.
Current Presence and Future Expansion
Aspect Realty has established a solid presence in several key areas of Mumbai, including:
- Bandra East
- Powai
- Almeida Park
- Worli
The company has ambitious expansion plans with new projects in the pipeline for:
- Jogeshwari
- Kandivali
- Bandra East
- Byculla
Diverse Portfolio
Aspect Realty offers a wide range of residential options to cater to different market segments:
| Segment | Price Range | Locations |
|---|---|---|
| Affordable homes | From ₹1.25 crore | Bandra East, Jogeshwari |
| Premium residences | ₹3.5 crore to ₹6 crore | Other locations |
This diverse portfolio allows the company to tap into various customer segments, from first-time homebuyers to luxury seekers.
Workforce and Diversification
With a current workforce of about 100 employees, Aspect Realty is poised for growth. The company is expanding its horizons beyond residential real estate into:
- Warehousing
- Plotted developments
- Slum rehabilitation
These diversification efforts could potentially open up new revenue streams and growth opportunities for the company.
Financial Strength and Future Outlook
Aksha Kamboj, Executive Chairperson of Aspect Realty, highlighted the company's strong financial position, noting its debt-free balance sheet. This financial prudence, coupled with strong institutional ties, positions the company well for future growth not only in Mumbai but potentially beyond.
The debt-free status is particularly noteworthy in the real estate sector, where many companies struggle with high leverage. This financial strength could provide Aspect Realty with a competitive advantage, allowing for more flexible operations and potentially more attractive pricing for customers.
As Aspect Realty continues to expand its footprint in Mumbai and diversify its portfolio, it appears well-positioned to capitalize on the growing demand for quality housing in India's financial capital. The company's success in premium projects like 'Shivam', combined with its entry into more affordable segments, suggests a balanced approach to the market that could drive sustainable growth in the coming years.
17
