BW Businessworld
'We are the Only Developer to deliver 8-projects in 3-months': Pankaj Bansal, M3M
Sticking to its company motto of "Quality, Timely Delivery and Excellence", Gurugram-based developer M3M says it had a good 2020 whereby it was the only developer, it claims, to deliver 8 projects in three months. Last fiscal, it clocked a revenue of Rs 4,200 crore - this year it expects to close 10 per cent higher than that Pankaj Bansal, Director, M3M tells Ashish Sinha of BW Businessworld. Excerpts:
Photo Credit :
How has been the sales for M3M since the Unlock phases?
We recorded sales to the tune of Rs 1150 crore in July-August 2020 as part of our 'Unlock Gurugram' campaign. The overall demand has been evenly distributed with both residential and commercial segments accounting for a 50% share. In the commercial segment (including offices, retail spaces and some service apartments), 15-20% of the demand was generated in the delivered projects that mostly comprise high-street retail. It is heartening that the residential segment has bounced back, and the demand is being seen in under-construction properties as well. A total of approximately 450 units have been sold in the residential segment with an average ticket size of these properties ranging between 85lakhs to Rs 1.5 crore.