Adani Realty, the unlisted real estate venture of Gautam Adani, is on a fast-track mode with its real estate ventures.

The company said it will develop a total of 1.5 million sq feet of commercial real estate and expects revenue to the tune of Rs. 3,000 crore from the venture. Adani Realty has interests in both commercial and residential projects. The company said its Mumbai commercial project — Inspire by Adani — will come up in Bandra Kurla complex and will be ready by June. Besides this, the company is developing four other commercial projects in Mumbai and Ahmedabad. Ajay Munot, CEO, Adani Realty said, “We believe the time is right to enter the commercial category in Mumbai. Our first commercial project in Mumbai will come up in BKC. We will be looking at both strata sale and leasing in the eight lakh sq feet commercial project.” Munot said the company was in talks with players in aviation, BFSI sectors and FMCG to lease or sell space in its Mumbai commercial project.

http://www.thehindubusinessline.com/todays-paper/tp-news/adani-realty-enters-commercial-space/article8225204.ece

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