Mumbai, Apr 10: West Avenue Realty, an emerging new-age real estate developer, has raised an incredible ₹50 crore through Non-Convertible Debentures (NCDs) in just three years from the day of starting business! This is a huge accomplishment for the company and indicates the strength of investor confidence in its business model, execution capabilities and growth plan!
At a time that the real estate market is experiencing a constant cautious market place for investors due to ongoing worldwide disputes, and as the most recent decline in the stock markets with only a handful of capital deployments, there have been substantial and strong commitments from investors in West Avenue Realty. This level of investment in West Avenue Realty illustrates that the investment community believes that West Avenue Realty has established a clear discipline in the execution of its investment thesis and a reliable track record of successful past investments.
Since inception, the focus of the organization has been to acquire projects at marque locations such as Khar, Juhu, Carter Road, Mahalaxmi, Dadar, Wadala and Panvel. These strategic acquisitions highlight West Avenue Realty’s ability to identify high-potential opportunities and execute efficiently on-ground.
The funds raised will be utilized to expand the Company’s project pipeline, grow its presence in key Mumbai markets and speed up the execution of current developments.
According to Mr. Vaibhav Kanabar of West Avenue Realty, “The milestone demonstrates the confidence that our investors have in our vision and our execution of our vision. As you know, there is a long period of time in this business to build credibility, so it is very satisfying that we accomplished this in three years, which is a very good indication that we are committed to growing responsibly and creating value.”
Mr. Saumitra Bhatkhalkar from West Avenue Realty said, “As West Avenue Realty continues to expand its footprint, the company remains focused on delivering high-quality developments with designing standards being the core element of the deliverables.”
