Ashwin Sheth Group's Bold Move in Mumbai's Luxurious Housing Market
Realty firm Ashwin Sheth Group has acquired a 50% stake in the luxury housing project 'One Marina' in Mumbai, funded by Rs 540 crore from PAG, Singapore. With an expected revenue potential of Rs 2300 crore, the development promises to be a prime residential address in South Mumbai.
- Country:
- India
The Ashwin Sheth Group has successfully acquired a 50% stake in the luxurious 'One Marina' housing project located on Marine Drive, Mumbai. The acquisition, funded by a substantial Rs 540 crore capital injection from PAG, marks the group's foray into high-end residential spaces.
The deal sees Ashwin Sheth Group acquiring shares from Vallabh Sheth and Jitendra Sheth, alongside landowner YM Infra. The project's financial dynamics, however, remain undisclosed. With its sights set on the future, the group predicts a total revenue potential of Rs 2300 crore from the venture.
In statements from Ashwin Sheth, the Chairman, and Sunil Hotchandani, Head of Fund Raising, the group's commitment to crafting premier living experiences and unlocking value in legacy projects was reinforced. Established in 1986, Ashwin Sheth Group continues to expand its multifaceted footprint in India and Dubai.
(With inputs from agencies.)
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