M3M Group to invest Rs 10,000 cr on construction, land acquisition in FY27

Realty M3M Group will invest Rs 10,000 crore during this financial year on construction and land acquisition as part of its expansion plan.

Gurugram-based M3M Group has two real estate companies- M3M India Pvt Ltd and Smartworld Developers Ltd. The Group develops residential, commercial and mixed-use projects in North India.

"We are focusing on delivery of projects. At present, there is more than 30 million sq ft of area under construction across various projects," M3M Group Promoter Pankaj Bansal told reporters.


Asked about the construction spend, he said the group will invest Rs 7,200 crore on pure construction activities this fiscal.

Bansal said the company is also actively acquiring land parcels to expand its business.

He said the company has acquired around 500 acre land in Gurugram and adjoining areas with an investment of Rs 2,500 crore.

"We will continue to acquire land. We will participate in the upcoming land auctions in Noida," Bansal said, adding that the company would invest Rs 2,500 crore this fiscal on land banking.

Asked about the source of funding, he said the company would meet all investments through internal accruals. The realty firm has zero debt.

The M3M group promoter said the company would focus on developing branded housing projects and would tie up with global hospitality and lifestyle brands.

In January this year, M3M Group partnered with global fashion and lifestyle brand ELIE SAAB to develop two ultra-luxury housing projects in Delhi-NCR with a total investment of Rs 3,500 crore.

The company has already completed a housing project in Gurugram under the 'Trump' brand.

In October last year, it partnered with Jacob & Co, a globally renowned luxury brand, for a project in Noida.

On overall housing demand in Delhi-NCR, Bansal said the demand is good for those builders who have a strong track record of project execution.

Responding to a question about plans to launch an Initial Public Offering (IPO), Bansal said the company has no plans in the short and medium term.