SRS Real Infrastructure eyes Rs 1,200-cr revenue in FY'14
While the sentiment in the real estate sector continues to be sluggish, realty player SRS Real Infrastructure is eyeing Rs 1,200 crore of revenue this fiscal, mainly on the back of new launches, a top company official has said.
"The current economic scenario is certainly not favourable. But we are bullish about our growth prospects and expect to achieve a topline of Rs 1,200 crore this fiscal," the company's Chairman and Managing Director Anil Jindal told PTI here.
The company had clocked a turnover of Rs 851 crore in 2012-13, registering over 17 per cent growth in FY 2012.
"We have a land bank of around 450 acres which offers us a rich scope for future developments. So overall, we are on a strong ground, and this makes me look confidently towards the future," he said.
The BSE-listed firm has projects, including residential and commercial, mainly in the Delhi-NCR region.
"We have projects in Faridabad, Greater Faridabad, Palwal, Rewari, Kurukshetra and Panchkula. We recently entered Maharashtra by launching a project 'Nex-Boulevard' in Karjat, under which we will be offering villas, creating it as a second home destination for our customers," Jindal said.
The company plans to launch over 2 million sqft of projects during the fiscal.When asked about raising funds for its expansion plans, he said, "We already have enough land bank. Whatever extra funds we require will be funded through internal accruals," he added.