Ramky Estates, a part of Ramky Group, is ready to expand its hand in real-estate projects by entering the warehouse sector. It is focused on developing 3-4 million square feet of space in the upcoming 5 years.
Tarakesh Rajesh Desari, the Director of Ramky Estates, said that they plan to execute their projects in Chennai, Bengaluru and Hyderabad with a total area of 15 million square feet, which will cost Rs. 10,000 Crore. Officials are targeting this project to be completed in 3 – 5 years.
Director of Ramky Estates, Tarakesh Rajesh Dasari, has addressed a press conference and said they have forthcoming projects worth Rs. 3,600 Crore. They also have a land bank of 1,000 acres in Chennai, Bengaluru and Hyderabad. He added that their company had completed the construction of 10 million sq. ft. of area worth Rs. 3,500 crore.
The Managing Director of Ramky Estates, M Nanda Kishore, said they are looking forward to a total booking value of more than Rs. 2,000 Crore in 2023-2024.
In the press conference, the company was also asked why they are restricted to only 3 cities in India and only to the residential segment. In reply, M Nanda Kishore said that the commercial segment is one of the most fluctuating markets, and this market faces high and low demand. And therefore, the risk level is too high! So, the company has decided to stay at the ratio of 90:10, where 90 is for real estate, and the rest is for commercial segments.