On Monday, Vardhman Amrante Pvt Ltd, a real estate firm under the Oswal Group, announced plans to invest Rs 1,350 crore over the next three years to develop 3-4 projects in Ludhiana and other cities in Punjab as part of its expansion strategy.
The Ludhiana-based Oswal Group, which has been involved in the textile industry since 2014, has already developed 1.5 million square feet in the residential sector and is currently constructing a shopping mall that spans 275,000 square feet. ‘We will be investing Rs 1,350 crore over the next three years to develop real estate projects,’ stated Adish Oswal, Chairman and Managing Director of Oswal Group, during a press conference. He mentioned that the funding for these investments would come from internal resources. The company intends to focus on 3-4 projects, which will encompass residential, commercial, and hospitality sectors, with all future developments aiming for green building certification.
Vardhman Amrante Pvt Ltd is particularly targeting Ludhiana and other emerging cities in Punjab, such as Bhatinda, according to Oswal. The company has already secured several land parcels for development and is in discussions for additional land acquisitions, although further details about the upcoming projects were not disclosed. ‘There are numerous opportunities in Punjab’s real estate market.
The state requires quality housing, commercial, hospitality, and industrial park developments,’ Oswal remarked. The Oswal Group also has a publicly listed entity, Vardhman Polytex, which reported total revenues of Rs 400 crore for the financial year 2023-24.