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00:00All right, well, from there on, we move on to Suraj Estates and Developers.
00:06They have raised about 343 crores through a preferential issue.
00:11And we spoke to the whole-time director, Rahul Thomas, to discuss how these funds will be
00:15utilized and the timeline for deploying them.
00:18Listen in to a slice of that conversation.
00:22So we have raised 343 crores, 100 crores out of which is share warrants.
00:28And the balance is through preferential raise of equity shares.
00:33The primary goal is to use 40% of these proceeds for land acquisition, lands which are very
00:39prime and which we have already identified.
00:42The balance would be for working capital requirements and the general corporate purpose.
00:47So are you targeting any particular land parcels you've been eyeing on, any progress on that
00:52front?
00:53And can you elaborate more on the working capital requirements needed for this?
00:57Yes.
00:58So we have identified certain lands, we see a buoyant commercial demand.
01:05So to cater to this demand, we have identified certain land parcels.
01:09So I think primarily that would be the projects where the capital will be deployed.
01:15In terms of working capital, it's mainly for making certain payments to the, for premium
01:20payments to the MCGM and other business requirements is the main reason why we would require that
01:27working capital.
01:28Well, sure.
01:29That's understandable.
01:30But now coming to your pre-sales performance, you've reported a 5% growth in Q1.
01:34While we refrain on discussing the Q2 figures for FY25, you've guided for 850 crore of pre-sales,
01:41which is about a 76% growth compared to last year.
01:45Do you maintain this guidance and can we expect an acceleration from H2 onwards?
01:50Also, can you give us an outline of some of the key launches which you're currently focusing
01:56on?
01:57Yes.
01:58So our guidance was 850 crores.
02:00So we're quite confident on achieving those numbers.
02:03Of course, I cannot be very specific on the pre-sale numbers for this quarter because
02:09our results will be announced the first week of November.
02:12So around that, we will be giving the specifics, but I can only tell you that we are poised
02:17for a good growth and we are on the right trajectory for achieving the target.
02:21In terms of our launches, we have 1150 crores of launches planned in obviously H2.
02:28We plan to launch this.
02:29These are obviously a commercial project on Tosi Piper Road would be one of the biggest
02:33launches which we will be doing.
02:36Also one in Shivaji Park in the residential segment.
02:38So these are the two big launches which we are going to be busy with.
02:41Okay.
02:42So when can we expect the two big launches that you mentioned about?
02:46Is it in these next two quarters itself?
02:48Absolutely.
02:49Our target is to bring it between the third and the fourth quarter would be the right
02:55timeline where we can see both these launches and obviously the registrations to be done.
03:00Along with the launches that you've mentioned, I want to also understand your progress on
03:04the expansion into Bandra sub-market with first phase of approvals received.
03:09What is the GDV potential from this that can be expected from the sub-market?
03:16So we already have the land tied up in Bandra.
03:20So our target is to be launching it next year.
03:25It's a bit early to give you the exact GDV, but because there is some amalgamation of
03:29plots also to be done, certain new acquisitions also going on as we speak.
03:34So I think it's a bit early to give you the exact thing on the GDV, but maybe in due course
03:40we will be giving out the exact numbers.
03:43Well, that's understandable.
03:45Now, considering the overall real estate sector.