Whiteland Corp raises Rs 250 crore for housing project in Gurgaon
Whiteland Corporation
has raised Rs 250 crore from three financial institutions and is in advanced discussions to secure an additional Rs 400 crore to fund a branded residences project in Gurgaon, the company said.
It is investing a total of Rs 4,000 crore in the 20-acre project,
Westin Residences Gurugram
, which entails building 1,700 three-bedroom and four-bedroom homes.
'We have raised Rs 250 crore at the group level, which has been used for land and approval payments. We are raising another Rs 400 crore construction line for this project only, while the balance can be funded through sales receivables,' said Navdeep Sardana, founder of Whiteland Corporation.
The developer has awarded Rs 2,000 crore in construction contracts to
Kalpataru Projects International
and
Ahluwalia Contracts
(India).
The project has a saleable area of 6 million square ft and it is expected to yield revenue of Rs 15,000 crore.
Live Events
Whiteland Corporation has so far delivered 1,300 homes and commercial spaces spanning 4.5 million sq ft.
India's branded residences segment has started drawing the attention of real estate developers and hotel chains. Marriott International, Radisson Hotel Group and Wyndham have said they are exploring opportunities in this segment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
31 minutes ago
- Time of India
KRT gets Sebi nod for Rs 4,800cr REIT IPO
Knowledge Realty Trust (KRT), sponsored by realty firm Sattva Group and Blackstone, has got Sebi approval to launch its REIT public offering to raise Rs 4,800 crore. Last month, KRT had raised Rs 1,400 crore from investors ahead of its maiden REIT public issue. This is part of a strategy to monetise its 30 prime office assets across major cities. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
39 minutes ago
- Time of India
'Premium pitch key growth pillar for Nestle India'
NEW DELHI: India is one of the fastest-growing markets for Swiss packaged foods giant Nestle globally, driven by the country's large consumption base, strong performance of core brands, and entry into new, high-potential premium categories, according to , the outgoing chairman & managing director of Nestle India. Tired of too many ads? go ad free now With a turnover of over Rs 20,000 crore and a revenue CAGR of just over 10% during the past decade, Nestle India is well-positioned to sustain its growth momentum, he said. Its strategy - anchored in premiumisation, faster-paced innovation, and a sharper focus on 'Rurban' markets through a consumer cluster-based approach - is expected to accelerate growth for the packaged foods company in a market which has been facing stubborn commodity inflation and a consumption slowdown, said Narayanan. "Premiumisation and innovation are the two key pillars of growth. Along with a focus on legacy brands like and KitKat, the company aims to deliver sustained growth. Since the Maggi crisis in 2015, Nestle recalibrated and rejuvenated its portfolio by launching over 150 new products, which now contribute 7% to sales. Innovation is now four times faster than it was a decade ago," he told TOI in an interview. Premium products contribute around 12% of Nestle India's sales, up from 10% in 2018, growing at a 16% CAGR since 2015. With a Rs 7,500 crore market opportunity, premiumisation is a key driver of growth and profitability. Nestle India's capital expenditure has risen from nearly 2% of sales in 2015 to 10% of sales in FY 2024-25 - a clear reflection of the company's growing confidence in the Indian market and its deepening focus on serving evolving consumer needs. Additionally, through a consumer cluster-based and 'Rurban' strategy introduced in 2019, the company strengthened its route-to-market, with its brands now reaching two out of three households, said Narayanan, adding this strategic agility, combined with deep consumer insights, positions Nestle well to capitalise on evolving market trends and shifting preferences. Tired of too many ads? go ad free now Responding to a question on the company's strategy of steering clear of mergers and acquisitions, he said, "We continue to explore good opportunities. But again, the question is one of valuation, potential, synergies, and growth opportunities that we see." India ranks among the top 10 global markets for the Switzerland-based Nestle and is the leading market worldwide for its flagship food brand Maggi, as well as the second-largest market for its confectionery brand KitKat.
Time of India
42 minutes ago
- Time of India
How to start a gym business and make it succeed: Here's a 6-step guide
Academy Empower your mind, elevate your skills Challenges on the floor Talent management How to start a gym business Fifteen years ago, when Saif Malik joined Anytime Fitness as general manager, he had no designated seat and zero access to the owner. 'I saw how things worked and, more importantly, how they didn't,' says Malik, who had grown up observing his older brother run a gym . Since then, he had dreamt of owning one himself. 'I knew the gaps that needed to be plugged: poor amenities, angry members walking out, staff with no voice,' he says. So, when he opened his own gym, Component Fitness, in 2021, he set out to fix these drawbacks. The gym was launched along with a friend with an investment of Rs.1 biggest expenses were for the equipment and rent, which comprised Rs 7 lakh annually and accounted for 60% of the total capital. Another 30% went into space design, and the remaining 10% on marketing and advertising. 'We didn't cut corners on quality,' he a year, Malik had expanded the gym from 3,000 to 7,000 sq ft to accommodate the surge in footfall. The reason for this rapid growth, he says, was his 'consumer -first approach'. He offered premium amenities at affordable prices and supported members through personal challenges, waiving fees for accident victims and pregnant women. Empathy guided his decisions. After the Pahalgam attack, he extended free memberships to all army tried various marketing channels—pamphlets, newspaper ads, billboards and online campaigns. At the outset, he spent Rs.20,000-25,000 a month on Instagram, which proved very effective. His priority was brand awareness over profits. 'I was okay about breaking even as long as people knew about us,' he gym now offers three-, six-, and 12-month plans priced at Rs.10,000, Rs.15,000, and Rs.24,000, respectively. The monthly revenue ranges from Rs.20-25 lakh, with profits of Rs.10-12 faced teething troubles. 'The biggest challenge for gym owners is underinvesting in amenities due to tight budgets,' he says. Most people also overlook the opportunity cost. 'If you could earn Rs.20, but settle for Rs.10 by selling at Rs.12, that's not profit; it's an unseen Rs.8 loss,' he explains. His industry experience helped him avoid such the right location was also a challenge. 'If your rent is too high or you open a premium gym in a low-income area, you're setting yourself up for failure,' he says. Success depends on research, knowing the local demographic, and pricing to match purchasing discovered that the largest operational expense wasn't marketing, but salaries. With a team of over 30, people management has been both fulfilling and demanding. 'Finding well-educated, professional trainers remains a challenge, and lack of formal education often reflects in their conduct,' he notes. To address this, Malik places a strong emphasis on training his staff in etiquette and professionalism, particularly to ensure a safe and welcoming environment for keep his team engaged and motivated, his company offers generous appraisals, subsidised meals, and regular team outings Malik has also implemented an Annual Maintenance Contract (AMC) to ensure the gym's equipment is of the ongoing challenges for him is the demanding nature of work. He cautions against viewing the gym business as a passive income stream. 'This isn't a side hustle. You have to give it your all,' he says. In the early days, Malik clocked up to 20 hours a day; even now, he puts in 14-15 hours ahead, he is focused on scaling the business through franchise partnerships. His model is straightforward: 50:50 investment, with the brand contributing half the capital. 'It ensures that the partner knows we have skin in the game,' he every gym in your target area. Check the facilities they offer, how much they charge, and what their weak points are. Your goal should be to offer better services at the same or slightly higher price. That's how you create assume what customers want; observe and ask. Is your target area price-sensitive or driven by quality? Avoid launching a premium facility in a low-income neighbourhood or a basic gym in an upscale area. Your offering must align with the local people through the door is the hardest part. Use Instagram, flyers, newspaper ads, and word of mouth to create brand awareness. Even if your initial revenue just covers your marketing spend, it's worth it. Conversion happens once people is where many gym owners go wrong. Invest in annual maintenance contracts and fix broken machines. Poorly maintained equipment leads to cancellations and bad reviews. Customers expect trainers represent your brand. Look beyond certifications, check how they talk, behave, and treat people. Most trainers need to be trained in professionalism. Make sure female clients feel safe at all on building good reputation, not just revenue. Give discounts and help out members going through personal challenges. Such details go a long way and profits will automatically Malik, owner of Component Fitness
