Hyderabad-based MyHome Group Constructions has ventured into the development of warehousing and industrial parks with plans to develop 500 acres of land in the city.
The project will be developed under the MyHome brand and will see a total development of 20 million square feet of development.
“In the first phase, most investment will be through internal accruals and construction finance. We are looking to identify some land parcels within the city, but we will not do speculative development”, said J Shyam Rao, managing director of MyHome.
The surge in activities from the manufacturing, third-party logistics (3PL), and retail sectors has driven the demand for warehousing to a new peak across India’s key logistics markets, including eight primary and 17 other secondary markets.
The country’s top 8 markets have experienced a historic high in demand, reaching 51.3 million sq ft in 2022-23 and taking the compounded annual growth rate (CAGR) to 24% between 2016-17 and 2022-23, showed data from Knight Frank India.
The firm also plans to build an annuity portfolio of Rs 3000 crore over the next five years with 25mn sqft of office projects under construction in Hyderabad.
The premium real estate residential and builder plans to invest $2 bn to develop 25mn sq ft commercial projects over the next eight years. “We currently have an annuity income of Rs 500 crore from operations assets,” said Rao.
The Rs 6,000-crore MyHome Group has interests in construction, cement, education, and other sectors. It has also lined up 25-30 mn sqft of residential projects in Hyderabad.
