Ashwin Sheth Group is eyeing Rs 3000cr in sales in next 12-18 months

The luxury real estate market is constantly evolving, with discerning consumers increasingly seeking unique, personalized experiences that blend opulence with innovation. One such initiative that has garnered attention is the merging of luxury real estate with fashion, a collaboration that highlights the ever-growing overlap between different facets of the luxury lifestyle. Ashwin Sheth Group, a name synonymous with premium, luxury, and super-luxury developments, has been at the forefront of this shift. With over 38 years of expertise, the group is now focusing on more immersive experiences that resonate with global luxury consumers. Through collaborations in fashion, automobiles, art, and even collectible luxury items, they are setting a new benchmark in the industry.

In conversation with Adgully, Bhavik Bhandari, Chief Sales and Marketing Officer, Ashwin Sheth Group, delves into the inspiration behind this innovative fusion of luxury real estate and fashion. He explains how working with noted fashion designer Sheetal Batra has elevated their offerings, creating a seamless blend of style and substance for their ultra-high-net-worth clientele. Bhandari also discusses their festive season campaign, ‘Kismat Ki Chabi’, and the group’s future expansion plans, including an upcoming IPO that will propel the company towards greater growth and market leadership.

What is the genesis of the idea of merging luxury real estate with fashion innovation?

Over the past 38 years, we’ve primarily focused on the premium, luxury, and super-luxury segments. When you look at the luxury market, the consumer is essentially a global individual. Whether it’s fashion, cuisine, travel, or the kinds of experiences they seek, this consumer is connected to global trends. The same applies to the homes they desire, the spaces they inhabit, and the brands they consume—be it electronics or fashion. Recognizing this, we felt that collaborating with Bombay Times Fashion Week and Sheetal Batra, a renowned name in fashion, would reinforce our presence and focus on the luxury segment.

This collaboration aims to strengthen our connection with consumers who regularly engage with luxury beyond just real estate. We are also exploring exciting collaborations in areas like automotive luxury, travel luxury, art as luxury, and even collectible luxury liquors. This is just one step in our broader strategy to align with various facets of luxury.

How will fashion designer Sheetal Batra shape Ashwin Sheth Group’s latest endeavour?

It’s been an exciting collaboration so far. Sheetal’s thought process, attention to detail, and deep understanding of luxury, especially in relation to our target consumer segment, make her a perfect fit. We’ve already conducted some tests with our prospective ultra-high-net-worth clients, and the feedback has been overwhelmingly positive. There's a great deal of excitement for this segment among consumers.

Could you elaborate on Ashwin Sheth Group’s festive season strategy this year? Please tell us more about your ‘Kismat Ki Chabi’ campaign and giveaways exceeding Rs 120 million?

At Ashwin Sheth Group, we are highly customer-centric. We don’t just say it; we truly revolve around our customers. We conduct extensive market research and gather customer feedback to understand their desires, aspirations, and unmet needs. In India, festivals are a time when consumers often seek to upgrade their lifestyle—whether through homes, cars, jewelry, or other desired purchases. The festive season presents an opportunity for us to offer attractive incentives that encourage customers to make decisions they might have otherwise postponed.

This year, for Diwali and Dussehra, we launched the ‘Kismat Ki Chabi’ campaign—a grand-scale offer ranging from Rs 500,000 to Rs 12 crore. Every customer who purchases a home is guaranteed to receive a ‘Kismat Ki Chabi,’ with gifts ranging from the latest iPhone to luxury cars, international trips, and home theater systems. The bumper prize offers a chance to win a dream home valued at Rs 2 crore to Rs 4 crore for free, with four such winners being selected. This totals Rs 12 crore in potential giveaways.

Ashwin Sheth Group’s brand revamp exercise in July-August this year created quite a buzz. How was the rebranding conceptualized, and how is it aligned with the Group’s growth plans?

In July, when we introduced ‘Ashwin Sheth 2.0,’ we wanted to clearly communicate that we’ve evolved as a company and brand. We are growing and envision ourselves in a strong position over the next five years. This rebranding was a way to inform people of our expansion plans and new brand image. We executed an international launch, featuring the brand in iconic locations like Times Square, Dubai, London, and across Indian metros, to emphasize our ambition.

The rebranding is aligned with our goal to be among the top 10 developers in India. It also reflects our plans to go public within the next 12-18 months, target sales around Rs 3000 crore, and venture into new verticals such as farmhouses, row houses, and plotted developments. We’re also eyeing new cities like Bangalore, Hyderabad, Pune, and Chennai. This rebranding represents the new, dynamic phase of our organization, and it’s meant to inspire pride among our employees and confidence in our customers.

Reports state that you aim to achieve sales revenue of Rs 3,000 crore in FY24-25. How are you moving towards this target? What are you focusing on as your key growth drivers?

So far, in the first two quarters, we’ve achieved about 40-45% of our target, which is on track. We have several exciting, major launches planned that will help us comfortably reach our goals. Right now, we’re about one-third of the way there. As we finalize the quarter and account for profit before tax and other factors, we’ll have more concrete numbers to share.

Ashwin Sheth Group has announced plans to launch its IPO in the next two years. How much capital are you planning to raise with this IPO, and what would be the key spend areas?

We are currently strategizing and finalizing our approach with the help of potential merchant bankers. As we mentioned during the press conference in July, we’re targeting an IPO size between Rs 1,500 crore and Rs 2,500 crore. The funds raised will primarily be used to make the company completely debt-free and fuel our growth into new cities and large-scale projects. A portion will also be invested in technological upgrades to streamline operations and enhance profitability.

Please tell us about your future expansion plans.

As mentioned earlier, our expansion plans are multifaceted. We will enter new cities and new business segments. We plan to further strengthen our presence in the ultra-luxury segment in Mumbai, while expanding across the Mumbai Metropolitan Region (MMR). This includes moving beyond our current key locations and reaching areas like South Mumbai, the upper suburbs, and Thane. Our focus will be on design and development, land acquisition, and partnering with leading consultants for design, execution, and construction.