Marking its entry into real estate development, Delhi-NCR–based Ashtech Group will invest about ₹1,800 crore to build a luxury housing project in Greater Noida. The project will come up on a fully paid 5.6-acre parcel the company recently acquired for roughly ₹300 crore.

Sumit Agarwal, Director of Ashtech Group, said the company has been in allied sectors such as fly ash bricks, AAC Blocks, Ready-mix concrete (RMC), Pre-Engineered Building, large-scale infrastructure, and power infrastructure, news agency PTI reported.

“We believe this is the right time to extend our expertise to real estate development,” he added.

The company will soon launch the first phase of the upcoming project.

Delhi-NCR-based Ashtech Group, which posted Rs 500 crore turnover last fiscal, plans to launch more projects in the coming years.

The real estate sector has been performing exceedingly well since 2022. The demand for housing and commercial properties has increased, while prices have appreciated significantly. Land cost, too, has risen sharply post-COVID pandemic.