Merlin Group, Kolkata's leading real estate developer, is now working on projects worth Rs 20,000 crore, which are likely to double its yearly revenue over the next 7-8 years, according to a top executive on Monday.
The announcement coincided with the introduction of the company's new brand identity.
"We've been increasing consistently year after year for the past 40 years. Merlin Group managing director Saket Mohta stated that the company is now developing 40 million square feet, which is expected to generate Rs 20,000 crore in total sales over the next 7-8 years.
Merlin Group's current annual income is around Rs 1500 crore, he noted.
The Merlin Group has completed 20 million square feet of development over the past 40 years, with a portfolio that includes sustainable townships, commercial buildings, and upscale residential complexes spread across several cities.
Of the 40 million square feet in various phases of execution, including additional cities like Pune, Chennai, and Bhubaneswar, 30 million square feet are currently under development in Kolkata and the surrounding areas alone.
We are actively looking for land parcels in Maharashtra, which is a key growing area. Our target destinations are Pune and Navi Mumbai. In Pune, a number of initiatives are already in progress", Mohta continued.
The firm, which is building the first World Trade Center project in the eastern region, is also very interested in hospitality. It is anticipated that the WTC will have a five-star establishment.
"We are committed to making dreams come true even as we grow both domestically and internationally. This rebranding is more than just a fresh look", Speaking at the launch of the new corporate identity, Merlin Group Chairman Sushil Mohta stated.
