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Ashtech Group, known for construction materials and infrastructure projects, is entering real estate with a luxury housing development in Greater Noida valued at INR 1,800 crore. The project will be built on a 5.6-acre plot acquired for INR 300 crore. Leveraging its experience in fly ash bricks, RMC, AAC blocks, and large-scale infrastructure, the company plans to launch the first phase soon. After reporting a turnover of INR 500 crore last fiscal, Ashtech aims to expand its property portfolio amid a strong post-pandemic real estate market with rising prices and land costs.
Ashtech Group, a company primarily engaged in construction materials and infrastructure development, has entered the real estate sector with plans to invest around INR 1,800 crore in a luxury housing project in Greater Noida. The project will be developed on a fully paid-up 5.6-acre plot, which the company acquired from the authority for approximately INR 300 crore, according to an official statement. Advertisement
Sumit Agarwal, Director of Ashtech Group, stated that the company has long-standing experience in sectors such as fly ash bricks, AAC blocks, ready-mix concrete (RMC), pre-engineered buildings, large-scale infrastructure, and power infrastructure. He added that the company views this as the right time to extend its expertise to real estate development.
The first phase of the project is expected to launch soon. With a reported turnover of INR 500 crore in the previous fiscal year, Ashtech is planning to expand its real estate portfolio in the coming years.
The real estate market in the Delhi-NCR region has been performing strongly since 2022, supported by rising demand for both residential and commercial properties. Post-pandemic trends have contributed to a significant increase in property prices and a sharp rise in land costs, particularly in urban clusters like Greater Noida. Analysts note that such high-value projects reflect the growing interest of diversified companies in the real estate sector, leveraging their experience in allied industries to meet housing demand.
Source PTI
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