Century, Real

Century Real Estate Records 68 Percent Growth in Residential Business in CY 21; Aims for Crossing INR 1,000 Crore Residential Sales by 2023

03.01.2022 - 12:00:58

Business Wire India
Century Real Estate, a leading developer and one of the largest landowners in South India, recorded its best ever calendar year in residential sales, with a significant 68% growth in net sales revenues compared to the previous CY, with the just-concluded festive OND quarter being the best quarter of all time. With this, more than half the projects that the company had in its portfolio at the start of the CY, have been sold out indicating the rising demand for its high quality homes & plotted developments. Century Real Estate is planning to bring in more of its owned land parcels into new development projects to meet the growing demand in the years to come. 
 
regarding the outlook for the upcoming years.
 
During CY 2021, the near-RTMI Century Ethos - a luxury offering in prime Hebbal - was among the hottest selling properties in the micro-market; underlining the popularity of projects close to delivery & offering large open spaces, in the post Covid era. Two plotted developments launched by the company in 2021 under the CenturyMarkTM umbrella - Century Greens 2 & Century Seasons, were sold out and also created strong appreciation value for the early buyers.

“2021 was an excellent year for us in terms of record sales numbers & growth. Many of our projects including Century Horizon and Century Breeze had their best year ever. While the year belonged to Luxury and Century Ethos was the star of the year for us; our proprietary CenturyMarkTM also made its mark in ensuring sell-outs of both plotted developments launched in this CY. We have also upped the ante in our people practices, which is also an area of primary focus for us, as we wish to create a Great Place to Work & a thriving ecosystem of excellence in the sector,” said Maninder Chhabra, CSO & Head - Sales, Marketing, CRM & PRS, Century Real Estate.

Century Real Estate currently has 3.1 mn sq ft of area under construction across nine locations and has an additional 2.1 mn sq ft of projects nearing completion. The company is set to begin work on projects across a total area of 3.6 mn sq ft in CY 2022.

The company received a fresh investment of Rs 175 Cr for Century Ethos from the international investment firm PAG during this year, which further reiterated the ever increasing confidence of local and foreign investors & consumers in the promising North Bengaluru region.
@ businesswireindia.com