ASBL launches Rs 2,200-crore residential project in Hyderabad, bookings starts by sept end
Hyderabad, Aug 27 (TNT): Hyderabad-based ASBL Builders on Thursday launched its premium residential project ‘ASBL Legacy’ at RTC X Roads, with an estimated total investment of Rs 2,200 crore.
The project, which recently received approval from the Telangana Real Estate Regulatory Authority (RERA), will involve around Rs 400 crore towards land acquisition and an estimated Rs 1,800 crore in construction expenditure, ASBL Builders Founder and CEO Ajitesh said on the occasion.
The project is expected to be completed by June 2031, with bookings likely to commence by the end of September.
Spread across 7.97 acres, ASBL Legacy will comprise three towers rising up to G+50 floors and offer three and four-BHK homes, starting at Rs 1.99 crore.
The project has a total development area of around 3.4 million square feet, with 73.25 per cent of the site earmarked as open space. It will have a 74,000 sq ft clubhouse and more than 50 amenities spread across around 1.70 lakh sq ft.
The project will offer managed security and property management services, sports facilities, co-working spaces and other lifestyle amenities.
A 12,000 sq ft Urban Corridor at the ground level of Tower B will include co-working spaces, indoor games, a clinic, physiotherapy room and tuition room.
The project is located around two minutes from RTC X Roads Metro Station, eight minutes from Kacheguda Railway Station and 15 minutes from MGBS, the company said.
Other features include a vehicle-free podium, double-height lobby, two-metre-wide corridors, foyer entries and one lift per unit per floor.
Over the past eight years, ASBL Builders has completed four high-rise residential projects in Hyderabad, delivering around 2,500 homes. Another 2,500 homes are currently under construction across three projects, while Legacy is its eighth project.
The company recorded net sales bookings of Rs 1,850 crore in 2024-25 and is targeting sales bookings of around Rs 2,500 crore during the current fiscal, Ajitesh said.
The company is also planning to tap the capital markets. It intends to launch an initial public offering (IPO) in the next four to five years, around 2030-31, to create value for shareholders and provide an opportunity for new investors to participate, he said.
ASBL also plans to expand its presence into Bengaluru and Pune over the next five years.
The company has adopted an institutionalised financing approach, partnering with financial institutions and banks, and plans to continue with a formal funding strategy as it expands its operations, he added.
TNT TS
