My Home Constructions On Expansion Mode
My Home Constructions is on expansion mode and executing nearly 13 million sq.ft of residential, including one million of commercial space in Hyderabad. The ₹3,000-crore turnover My Home Constructions, part of the Hyderabad-based My Home Group, which is into construction and cement manufacturing, has thus far executed more than 17 projects and is now looking at significantly scaling up construction activity. The company is planning to take up new projects leveraging its land bank.
“Over nearly 30 years, My Home has completed 17 residential and commercial projects spanning nearly 25 million sq.ft of total built-up area. This includes about 5 million sq.ft of commercial space and 20 million sq.ft of residential. We are now executing projects with a total built up area of about 13 million sq.ft to be completed within the next 2-3 years,” A Srinivasa Rao, Chief Financial Officer, My Home Constructions stated.
Raajitha Rao Jupally, Director Marketing of My Home Constructions, said, “the brand has established itself with its marquee projects with more than 50 per cent of the customers getting on board through referrals during the soft launch and some of the customers further strengthening their engagement with our projects.”
The company has built up a land bank and is in the early stage of preparations for the launch of a couple of large projects. Referring to Hyderabad real estate trends, Rao said that Hyderabad is able to attract a number of investors with its quality infrastructure. It continues to be affordable compared to other major cities in the country. Therefore, the price of owning a constructed project is lower compared to other major cities.
Rao said the company has already completed several residential projects among others which include, My Home Mangala, Ankura, Tarkshya and Tridasa. In the commercial segment, it has completed My Home Jupally, Sarovar, Tycoon, Hub and now executing Twiza. The company has developed a commercial project, Sky View, an initiative of My Home Group and RMZ corp, in the Hitec City IT hub of Hyderabad. It has managed to attract some of largest IT/tech companies, which includes Facebook, WhatsApp, Google, Qualcomm and others.