Realty Major Rise Infra Reports 110 pc Jump in Overall Sale. Image Source: Canva
Leading real estate consulting company Rise Infraventures Ltd. recently announced that its FY 2023–2024 gross revenues totaled an incredible Rs 2620 crores. This represents a staggering 110 per cent increase over the same period last year. The company’s gross sales for the fiscal year 2022–2023 were Rs 1428 crores, the company said in a statement. Encouraged by the results, the company has targeted gross sales of Rs. 4000 crores for the upcoming fiscal year, 2024–2025.
“Gross sales target of Rs. 4000 is an easily attainable number. The last two years have been immensely good for the real estate sector. Riding on the back of India’s economic growth as well as rapid infrastructural development, the realty sector is experiencing a massive tailwind and is poised to scale new heights of growth. Besides, we are investing in this potential, which will enable Rise Infra to attain the numbers we have set our sight on,” said Sachin Gawri, Founder & CEO, RISE Infra.
Meanwhile, the company, seeking to capitalise on NRIs’ interest in India’s realty market, has opened a new vertical called Rise International. It has also opened two new offices in Mumbai and set up a new division, Rise Homes. The company has also leveraged its services while consolidating its leadership position in the luxury segment, the company said in a statement.
Rise Infra will tap new markets, open 5 new offices, and increase its current manpower strength by 55% to attain a whopping 1.5 times increase in its gross sale percentage. Further, Rise Infra has also announced its targets for the next three financial years – 5000 cr (2024/25), 6250 (2025/26) and 7500 (2026-27).
Attractive pricing, improved service, and availability at a large number of locations will further help Rise Infra seal the deal.
According to JLL India, sales of luxury properties costing Rs 50 crore and above increased 51 per cent in value to Rs 4,319 crore in the previous calendar year due to high demand. Data from real estate consultant JLL India revealed that at least 45 properties with prices starting at Rs 50 crore were sold for Rs 4,319 crore in 2023. In this price range, at least 29 residences worth a total of Rs 2,859 crore were sold in 2022.
