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Monday, July 22, 2024

CRC Group plans to launch three Noida projects, targeting a top-line revenue of around Rs 3,500 crore

NCR-based real estate developer CRC Group is set to embark on significant projects. They plan to develop ‘The Flagship,’ a Grade-A IT/ITES integrated premium commercial project along the Noida-Greater Noida Expressway, with an investment of approximately Rs 750-Rs 800 crore. This project is expected to generate a top-line revenue of around Rs 1200 crore. Spanning 11 acres in Noida’s sector 140A, it will encompass a total built-up area of approximately 24 lakh square feet.

Within this development, 12 lakh square feet will be dedicated to office space, four lakh square feet to retail space, and 102 service apartments. The company intends to sell the office space while leasing the retail space. The project is projected to be completed by April 2027 and will feature a high-street retail market area. The investments for this project will be funded through internal accruals.

CRC Group is also partnering with Jaypee to construct an upscale ultra-luxury residential complex in Jaypee Wishtown, sector 128, with an estimated revenue of approximately Rs 1500 crore. Furthermore, they will be launching the second phase of CRC Sublimis, a luxury project in Greater Noida West, with an expected revenue of approximately Rs 800 crore. Currently, CRC Group is actively engaged in projects covering a substantial area of 72 lakh square feet, demonstrating their commitment to the real estate market.

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