Gurugram-based M3M Group has announced a ₹10,000 crore investment during the current financial year, focusing on construction and land acquisition activities. According to reports from The Economic Times, the investment will be split between ₹7,200 crore for construction activities and ₹2,500 crore for land acquisitions around Gurugram. The company currently maintains a zero-debt status and will fund all investments through internal accruals. As reported by Business Standard, the group's promoter Pankaj Bansal emphasized that the company is focusing on project delivery with more than 30 million sq ft of area under construction across various projects.
The company has already acquired around 500 acres of land in Gurugram and adjoining areas with an investment of ₹2,500 crore. As reported by The Economic Times, M3M Group Promoter Pankaj Bansal stated that the company will continue acquiring land and participate in upcoming land auctions in Noida to increase its land holdings. According to Business Standard, the group is actively acquiring land parcels to expand its business, with Bansal confirming they will continue to acquire land and participate in upcoming land auctions in Noida. The group will launch two new residential projects in Gurugram this year, one of which could be a retirement housing project.
M3M Group is focusing on developing branded housing projects by collaborating with global hospitality and lifestyle brands. According to The Economic Times, in January this year, the company partnered with global fashion and lifestyle brand ELIE SAAB to develop two ultra-luxury housing projects in Delhi-NCR with a total investment of ₹3,500 crore. The company has also completed a housing project in Gurugram under the 'Trump' brand and partnered with Jacob & Co for a project in Noida in October last year. As reported by Business Standard, Bansal stated the company wants to bring the high-net-worth luxury market back to India, with 20 per cent participation from non-resident Indians (NRIs) in its branded projects. Going forward, the group wants branded residences to account for at least 50 per cent of its portfolio, up from the current 30 per cent.
Regarding housing demand in Delhi-NCR, M3M Group Promoter Pankaj Bansal told reporters that demand is good for builders who have a strong track record of project execution. As reported by The Economic Times, when asked about plans for an Initial Public Offering (IPO), Bansal stated that the company has no plans in the short and medium term. According to Business Standard, the group's promoter confirmed that the company has no plans to launch an IPO for M3M and Smartworld in the short to medium term.
