Gaurs Group, a prominent real estate developer in the National Capital Region, is restructuring its operations to facilitate an Initial Public Offering (IPO) aimed at funding a major commercial project in Noida.
The company, which marks its 30th anniversary this year, has acquired 18 acres of land in Sector 129 for this ambitious venture, expected to encompass approximately 5 million square feet of commercial space.
As reported by the Hindustan Times, Chairman and Managing Director Manoj Gaur announced the plans, stating that the restructuring process will consolidate various subsidiaries under one umbrella. He emphasized the need for this realignment before proceeding with the IPO, which is projected to occur in the next one to two years.
The proposed project in Noida is expected to include 2.5 million square feet of retail space and 2 million square feet designated for A-grade office spaces, along with a convention center and a hotel. The total investment required for this development is estimated at around ₹3,000 crore. Gaur indicated that this project could be one of the largest retail developments in Noida and intends to operate on a lease model.
In addition to the Noida project, Gaurs Group is actively pursuing opportunities across various sectors, including housing, hospitality, and education. Gaur mentioned that the company plans to launch additional real estate projects valued at approximately ₹5,000 crore, demonstrating confidence in the robust demand within the real estate market.
Recently, the company launched a luxury residential development in Ghaziabad called Gaur NYC Residences, comprising around 1,200 apartments with unit prices starting at ₹2 crore. This project achieved total sales of ₹3,100 crore within just three days of its launch. Furthermore, Gaurs Group is set to introduce another ultra-luxury project in Noida’s Jaypee Greens, likely to feature around 300 apartments.
Despite its ambitious growth plans, Gaurs Group is managing its financial commitments carefully. The company currently holds a debt of approximately ₹1,300 crore to ₹1,400 crore but anticipates reducing this liability with projected receivables of about ₹4,500 crore from completed projects.
With a legacy spanning over three decades, Gaurs Group has developed over 65 million square feet and delivered 65,000 units across various real estate segments. As the company prepares for its IPO and continues to expand its portfolio, it aims to play a vital role in shaping the future of the real estate market in Noida and the broader NCR region. Gaur’s vision for the future includes launching projects across multiple verticals, including housing, commercial, hotels, schools, retail, and sports.