Bhavik Bhandari
CSMO, Ashwin Sheth Group
How was the year 2024 for the company?
The year 2024 has been nothing short of transformative for Ashwin Sheth Group. We’re on track to clock a remarkable revenue of Rs 2,500-3,000 crore, fuelled by skyrocketing demand for luxury homes in Mumbai’s most sought-after locations. Our commitment to financial health has led to a massive 60-65% reduction in debt, and we’re laser-focused on becoming debt-free in the next 6-10 months. The future looks even brighter as we gear up for ambitious expansions into different cities in India, and global markets through strategic JV partnerships. To top it off, our upcoming IPO will solidify our position as an industry powerhouse.
What are the key achievements this year? What factors helped you to meet your targets for this year?
2024 has been a year of game-changing milestones for Ashwin Sheth Group. The launch of Ashwin Sheth 2.0 has redefined our journey with cutting-edge innovation and unmatched precision. Our bold marketing approach took center stage with the ‘Kismat Ki Chaabi’ campaign, offering everything from luxury homes to EVs, creating a festive buzz like never before and driving incredible engagement. Our program, 'The Orange Circle,' is a trailblazing initiative redefining the essence of real estate community building. India’s first inclusive community program, it now boasts over 5,000 members and has paved the way for international expansion into Dubai, Singapore, the US and the UK. Collaborations with over 250 lifestyle brands and our show-stopping presence at events like Bombay Times Fashion Week have propelled our brand visibility, resonating powerfully with luxury buyers. Strategically, our projects in prime locations—Mulund, Thane, and Kandivali—highlight our deep understanding of customer needs. These achievements, combined with our rock-solid foundation, are setting the stage for our highly anticipated IPO, firmly establishing us as a trailblazer in the luxury real estate space.
What are the pain points and prevailing challenges in the sector when we enter the new year?
Despite a happening 2024, the real estate sector is also navigating a maze of challenges as we step into 2025. Rising construction costs, skyrocketing land prices, and steep property taxes are squeezing margins for developers and accessibility for buyers alike. Adding to this is the ripple effect of fluctuating interest rates, stringent regulatory compliance, and a cautious lending environment, and the landscape becomes even more complex. Stagnating property values and intensifying competition among real estate players further amplify the pressure. While the demand for sustainable and tech-driven homes is
on the rise, bridging the economic gap remains a significant hurdle. At Ashwin Sheth Group, we’re tackling these challenges head-on by embracing innovation and diversification. Through sustainable construction practices and advanced technologies, we’re optimizing costs while reducing environmental impact. By collaborating with local governments, we’re championing inclusive housing initiatives without compromising quality. To combat delays, we’ve streamlined project management processes, leveraging cutting-edge tools for meticulous planning and execution. Our strategic pivot to exclusive, high-end developments not only attracts discerning buyers but also positions us as leaders in premium living experiences. These proactive measures ensure we stay resilient, agile, and poised for robust demand despite industry headwinds.
How are you planning the year ahead? What are your goals and way forward?
As we step into 2025, our strategy revolves around delivering excellence at every level. Our top priority is executing projects with precision—ensuring timely handovers, maintaining impeccable construction quality, and exceeding customer expectations. We’re set to expand our portfolio with a carefully curated mix of luxury and mid-segment offerings, addressing a broad spectrum of customer aspirations. Technology will play a pivotal role in enhancing the customer experience, from immersive virtual site tours to AI-powered decision-making tools that simplify the buying process. Sustainability remains central to our approach, driving innovative design and eco-conscious development practices. We’re doubling down on the ultra-luxury segment in Mumbai, while strategically expanding across the Mumbai Metropolitan Region (MMR), including South Mumbai, the upper suburbs, and Thane. Our roadmap includes focused efforts on design and development, land acquisitions, and partnerships with top-tier consultants to ensure best-in-class execution. By staying customer-focused and forward-thinking, we’re poised to make 2025 another landmark year for Ashwin Sheth Group, contributing meaningfully to the evolving real estate landscape.
