ATS Group launches Homekraft, ventures into affordable housing
ATS Group, one of the leading real estate developers in the National Capital Region (NCR) has ventured into mid- income and affordable housing segment by launching a new entity ‘HomeKraft’.
HomeKraft is led by Prasoon Chauhan, CEO, a banking veteran with more than twelve years of real estate finance experience in two of the finest private sector banks of the country namely ICICI Bank and Yes Bank.
Talking to Realty Plus on the sidelines of a press meet, Chauhan, said, “Homekraft would launch housing projects in the range of Rs 30-70 lakhs; the first project of HomeKraft will be launched in Noida itself and then in other parts of NCR followed by rest of India. The announcement for the new project will be made in next 15-20 days. HomeKraft aspires to be one of top five developers of the country in the next 3-5 years. We are building on the legacy of ATS, which is synonymous with quality construction and timely delivery. Moreover, in HomeKraft we are also designing every apartment with maximum space efficiency and integrated utilities which will fulfill the housing needs of this segment.”
Adding further Chauhan said, “All apartments under this brand, would qualify under the PMAY scheme, wherein, various concessional schemes of govt. like interest subvention under CLSS, concessions on GST etc. are available. All these benefits would pass on to the customer basis their respective eligibility and further reduce the cost of the apartment.”
Further talking about the investments and expectation from Homekraft, Chauhan, told, Realty Plus, “ATS will invest close to Rs. 1,500- 2,000 crore for construction of these units and will fund it with a mix of internal accruals, debt and private equity funds. It is already in advance talks with a major PE firm to raise funds for HomeKraft in the next 2-3 months. And we are looking to clock sales of 6000-6500 units in the next 3-5 years from Homekraft with expected revenue in the range of Rs. 4000-5000 crore.
Getamber Anand, Chairman & Managing Director, ATS Group, said, “ATS is known for building premium projects and has earned goodwill of customers for delivering projects on time and with best in class construction quality. We’ve had a persistent demand for affordable & mid segment housing from prospective customers, who aspire for an ATS home but are unable to afford due to budget constraints. This has led us to create a new entity ‘HomeKraft’ under the leadership of Prasoon, with a focussed approach towards this segment”