- Company reports sales of 2,291 homes in H1 FY22-23, resulting in 56% increase in sales compared to H1 of FY 21-22
- Clocked sales revenue of Rs.1417 Cr in H1 FY22-23, resulting a 89% increase in sales revenue compared to H1 of FY 21-22
CHENNAI, India, Nov. 30, 2022 /PRNewswire/ -- South India's largest real estate developer, Alliance Group and Urbanrise, today announced that the company has sold over 2,291 homes between April to September 2022, resulting in a 56% increase in housing sales compared to H1 of FY 2021-22. The significant increase in sales has resulted in 89% increase in sales revenue compared to the same period last year.
The recently launched projects of Alliance Group and Urbanrise across Chennai and Hyderabad have contributed Rs.1,417 Cr sales during the period. Last FY i.e. 2021-22, the company did a total sales of Rs. 2,290 Cr with 3,638 number of homes sold.
The company has lined-up a series of new launches of over 25 million sq. Ft. of residential projects for the financial year 2022-23. In line with its development plans, the company is all set to launch three significant projects in South India that include a 46 acres Sustainable Villa community in Hyderabad, a luxury 4.4 million sq. ft. high-rise apartment community in Hyderabad, a 30 Acre sustainable villa community in Bangalore, a premium 1 million sq. ft. high-rise apartment community in Bangalore.
The company also recently raised Rs.260 Cr funds from Motilal Oswal, one of India's largest financial institutions towards these three upcoming projects that has a total saleable area of 6.2 million sq. ft. and a revenue potential of Rs.4,600 Cr.
Commenting on the performance, Mr. Manoj Namburu - Chairman & MD of Alliance Group and Urbanrise said, "We are delighted to have started the first half of this financial year with a significant increase in sales and revenue compared to that of the H1 of the previous year, where our sales have increased by 56% to Rs.1417 crores. The results are a reflection of the belief and trust that our customers have in our organization, the innovation we bring into our projects and top class lifestyle amenities that we offer. Speedy construction of our projects and delivering projects ahead of completion deadline has helped our brand in achieving these results. We are humbled by the customers' belief in us and dedicate ourselves to ensure that we will strive harder to exceed our customer's expectations."
Commenting on the occasion, Mr. Rajendra Joshi, Director of Alliance Group and Urbanrise said, "The sales numbers have been extremely encouraging in the first half of the year and the response of the customers to our projects post the pandemic struggles during the last two years has been phenomenal. This buoyancy in the market has given us the fillip to launch new projects and also expand our geographical footprint. We are confident of closing this financial year on a higher note."
About Alliance Group and Urbanrise
Urbanrise/Alliance Group, South India's Largest Real Estate Developer has delivered over 7,500+ homes. The organization has 54 million Sq.Ft. of projects under development at various stages and has a real estate portfolio of Rs.33,000 Crores. The Organization is backed & funded by the world's Topmost Financial Institutions.