K Raheja Corp

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K Raheja Corp
IndustryReal estate
Founded1956
FounderChandru Lalchand Raheja
HeadquartersBangalore, India
Area served
India
Key people
Ravi Chandru Raheja, Neel Chandru Raheja
Products
  • Residential
  • Commercial
  • Hospitality
  • Malls
Websitewww.krahejacorp.com

K Raheja Corp is a property developer in India with interests in commercial and residential projects, malls and hospitality across multiple cities in the country.[1] It owns the brands Mindspace, Commerzone and Shoppers Stop, and is the second largest commercial developer in India.

History[edit]

Founded in 1956 by Chandru Raheja, K Raheja Corp was formed after a split between Raheja brothers as a separate group.[2]

Projects[edit]

Commercial[edit]

K Raheja Corp operates its commercial business under the brands Mindspace and Commerzone with projects in Mumbai, Hyderabad, Pune and Chennai.[3] As of 2017, K Raheja Corp had 20 million square feet (1.9 million m2) of office space, making it the second largest commercial developer in the country.[4] The real estate group is leading the process of buying Citi Centre, a 100,000 sq ft (9,300 m2) commercial property in Bandra Kurla Complex, Mumbai, which housed the headquarters of Citibank.[5]

Residential[edit]

The residential business of K Raheja Corp spans multiple projects in Mumbai, Pune and Hyderabad.[6] The group has commenced luxurious residential projects like Artesia and Vivarea in Mumbai,[7] and have developed other luxury projects in Mumbai, Pune and Hyderabad.[8]

Hospitality[edit]

The group's hospitality business is focused on hotels and convention centres for business and leisure needs. K Raheja Corp promotes Chalet Hotels – a high end hotel chain in India with established global brands such as Sheraton (Starwood Hotels and Resorts), Westin and JW Marriott.[9] In 2017, the Group declared plans to invest ₹ 3000 crores over 4–5 years to double its current current portfolio of 2,800 rooms, and touch other tier 1 cities like Bengalaru, Goa, NCR and Pune.[10]

Retail[edit]

Multi-brand lifestyle store Shoppers Stop and its subsidiary bookstore company Crosswords are part of K Raheja Corp. The ₹5,113 crore company Shoppers Stop has currently been reviving its model to improve profit in its businesses to compete with online marketplaces.[11]

Malls[edit]

K Raheja runs Inorbit mall which is present in Bengaluru, Hyderabad, Pune, Navi Mumbai and Vadodara.[12]

References[edit]

  1. ^ "K Raheja Corp - Official Website". K Raheja Corp. Retrieved 29 July 2019.
  2. ^ Nandy, Madhurima (7 July 2008). "Realty firm B Raheja split between brothers". Livemint. Retrieved 29 July 2019.
  3. ^ Pratap, Rashmi. "K Raheja Corp investing ₹2,000 crore in Navi Mumbai business parks". @businessline. Retrieved 29 July 2019.
  4. ^ Babar, Kailash (6 March 2017). "Blackstone Group eyes 15 per cent in K Raheja portfolio". The Economic Times. Retrieved 29 July 2019.
  5. ^ "Developer K Raheja trumps Mirae to snap up Citi's prime Mumbai property". VCCircle. 4 July 2019. Retrieved 29 July 2019.
  6. ^ "India's most Luxurious Residential Apartments - Kraheja". Raheja. Retrieved 29 July 2019.
  7. ^ "K Raheja Corp's Artesia: The changing face of luxury living". The Economic Times. 14 June 2018. Retrieved 29 July 2019.
  8. ^ "K Raheja Corp unveils 'Maxima' at Pune's Raheja Vistas Premiere". Construction Week Online India. Retrieved 29 July 2019.
  9. ^ "K Raheja's hotel arm Chalet Hotels plans to raise INR 2,000 crore from IPO". Hospitality Biz India. Retrieved 29 July 2019.
  10. ^ Babar, Kailash; Chaturvedi, Anumeha (7 July 2017). "K Raheja Corp's Chalet Hotels may invest Rs 3000 crore to double hotel rooms". The Economic Times. Retrieved 29 July 2019.
  11. ^ Pinto, Viveat Susan (14 March 2019). "Shoppers Stop bets on beauty retail to revive growth, improve profit". Business Standard India. Retrieved 29 July 2019.
  12. ^ "The mall story 2.0". @businessline. Retrieved 29 July 2019.

See also[edit]