Ashtech Group, a well-known name in construction materials and infrastructure development, has officially stepped into the real estate sector with plans to invest around ₹1,800 crore in a luxury housing project in Greater Noida.
The company’s maiden real estate venture will rise on a 5.6-acre fully paid-up plot, which it recently acquired from the authority for ₹300 crore, according to a company statement released on Thursday.
Sumit Agarwal, Director of Ashtech Group, shared, “We believe this is the right time to extend our expertise to real estate development.” He further highlighted that Ashtech has long been engaged in allied sectors like fly ash bricks, AAC blocks, ready-mix concrete (RMC), pre-engineered buildings, large-scale infrastructure, and power infrastructure—all of which provide a strong foundation for this new venture.
The company is gearing up to launch the first phase of the project soon. Based in Delhi-NCR, Ashtech Group reported a ₹500 crore turnover in the last fiscal year and plans to expand further with more real estate projects in the coming years.
Meanwhile, the Indian real estate market continues to flourish post-2022, with surging demand for both residential and commercial spaces. Property prices and land costs have witnessed significant appreciation, particularly after the pandemic, creating a ripe environment for new entrants like Ashtech to make their mark.
