In a significant expansion move, Ashtech Group, a well-established name in construction materials and infrastructure development, has officially entered the real estate sector. The Delhi-NCR–based company announced its first luxury residential project in Greater Noida, backed by an estimated investment of ₹1,800 crore, marking a major milestone in its business diversification strategy.
According to a company statement released on Thursday, Ashtech Group has acquired a 5.6-acre fully paid-up land parcel from the Greater Noida authority for approximately ₹300 crore. This land will serve as the site for its upcoming premium housing development, which is expected to cater to the rising demand for upscale living spaces in the region.
Sumit Agarwal, Director of Ashtech Group, stated that entering the real estate sector is a natural extension of the company’s expertise. Over the years, Ashtech has built a strong presence in several allied sectors including fly ash bricks, AAC blocks, ready-mix concrete (RMC), pre-engineered buildings, large-scale infrastructure, and power infrastructure. This extensive background in construction materials and engineering solutions, Agarwal noted, gives the group a competitive advantage as it steps into real estate development.
“We believe this is the right time to extend our expertise to real estate development. The sector is witnessing strong, sustained demand, and our experience in construction-related industries positions us well to deliver high-quality projects.
The company confirmed that the first phase of the project will be launched soon, although detailed specifications, including the number of units, configuration mix, and amenities, are expected to be announced at a later stage. Industry expectations suggest that the project may include luxury apartments with modern facilities, given the growing shift towards premium and lifestyle-oriented housing in Greater Noida.
Ashtech Group, which reported a ₹500 crore turnover in the previous fiscal year, plans to introduce more projects within the Delhi-NCR region over the next few years. The company aims to build a strong real estate portfolio spanning residential and potentially commercial developments.
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The timing of Ashtech Group’s entry into real estate aligns with the sector’s strong performance post-2022. Analysts note a significant rise in housing demand across major metros and micro-markets, including Greater Noida, Noida, Gurgaon, and other emerging hubs. The demand-supply gap, coupled with rising disposable incomes and shifting lifestyle preferences, has fueled interest in both mid-segment and luxury housing.
Post-pandemic, investor interest in real estate has resurged, with property considered a stable asset class amid global economic uncertainties. The sharp increase in land acquisition costs, along with appreciation in property values, has encouraged established construction-focused companies to venture into development.
Greater Noida, in particular, has emerged as one of the most sought-after real estate destinations due to its well-planned infrastructure, affordability compared to Gurugram and Noida, and upcoming connectivity projects including the Noida International Airport at Jewar, Delhi-Meerut RRTS, and proposed metro expansions. With multiple developers launching large-scale township and luxury projects, the region is expected to witness sustained growth over the next decade.
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For Ashtech Group, the real estate foray is not merely an expansion but a strategic diversification that leverages its long-standing strengths. The company’s experience in high-quality construction materials, infrastructure execution, and engineering positions it to compete effectively with established developers in the NCR market.
Industry observers believe the group’s transition into real estate comes at a favorable time, as buyers increasingly prioritize construction quality, durability, and brand credibility—areas where Ashtech already has proven expertise.
As Ashtech prepares to unveil its first project, anticipation is building within the industry to see how the company blends its construction background with modern real estate development practices. The move signals confidence in the region’s property market and sets the stage for more investments in the coming years.
