Ashiana Housing intends to invest Rs. 425 crore in FY2025-26 towards expanding its senior living portfolio, targeting prime markets, including Mumbai, Bengaluru and Delhi-NCR.
In a regulatory filing, the company said the budget will be used for payments to landowners, construction, execution costs and other expenses related to the projects.
Ashiana currently has nine senior living projects underway: three in Bhiwadi (NCR), three in Chennai, and one each in Jaipur, Pune, and Lavasa.
Key Highlights
The company is set to launch five phases of existing projects in the fiscal year, adding about 5.71 lakh sq ft of saleable area. Last year the company added about 5.38 lakh sq ft and invested Rs. 213 crore in the senior living segment.
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The company recorded Rs. 382 crore in booking value from senior living in FY2024-25 and is targeting Rs. 450 crore in FY2025-26, while the senior living contribution is over 30 percent of Ashiana's residential portfolio.
In FY2024-25 outlay incurred was Rs. 213 crore for senior living segment and booking value was Rs. 382 crore.
“This year we are planning to launch five new phases in existing senior living projects (approximately 5.71 lakh square feet of saleable area). The company constructed approximately 5.38 lakh square feet in this segment last year,” it said in a statement.
Commenting on the growth strategy, Ankur Gupta, Joint Managing Director, Ashiana Housing, said, "Senior living is more than a business segment for us, it is a long-term commitment rooted in demographic need and social relevance."
"The increased investment and our entry into Mumbai, Bengaluru and other cities reflect our conviction in the segment and our ability to deliver integrated housing solutions with ongoing support and community engagement," he said.
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