Real estate firm Orbit Corp Ltd expects to add new projects worth 8-10 billion rupees in 2008/09, as it sees strong demand for redevelopment projects in South Mumbai, its main area of operation.
The developer, focused on selling high-end apartments and offices in the city’s affluent areas, sees revenue growing at least 25 percent this fiscal, despite reports of a demand slowdown in Mumbai, its finance head said on Tuesday.
The company is now leveraging on the demand to set up beach-front projects further up along the Mumbai coastline, and is also acquiring land for a 200-acre coastal township at Mandwa, south of Mumbai.