Gopal Sarda backed Vibe Realty achieves striking performance in first year of operations
Mumbai/Pune, October 07, 2022: Vibe Realty Private Limited (VRPL), a realty venture by Gopal Sarda, today announced the successful completion of its first year in the Real Estate business.
Incorporated in Sep 2021, Vibe Realty was created to set new standards of excellence in the development of providing top-quality residential, commercial, and mix-use developments in Mumbai, Pune, and Rest of Maharashtra. The company capturing increasing mindshare and market through innovations in the field of Design, Technology, Quality, and Before time delivery of services.
Within a short span of time, the Group has taken up 7 projects under its Capital to Consumer (C2C)/Development Management (DM) model with mandates from developers of various sizes across geographies. The projects are at real estate hotspots of Kharadi, Baner, Phursungi, and Saswad roads in Pune, Andheri East in Mumbai, and Paithan road in Aurangabad. The Aurangabad project is successfully sold and exited in record 8 months, much ahead of committed timeline of 18 months. Another highlight of Vibe’s growing brand reach is a project at Phursungi Pune. Here Vibe sold 200 plus units during the period of six months from its entry and the momentum is still on. After taking over this project, Vibe not only doubled the sales velocity of the project but at the same time was able to achieve higher sales price than previous periods.
The Company also has a separate development silo and has built a strong pipeline of 3-4 projects under out-right purchase and JV/JD structures located at Mumbai and Pune which are under various stages of due diligence. The company expects the acquisition and subsequent notable launches of these projects in the coming quarters. The company is also looking to add another 7-8 projects in its C2C services model before September 2023.
Commenting on Vibe Realty’s first anniversary, Mr. Gopal Sarda, Founder, and Managing Director said, “We are excited to announce successful completion of the first year of our venture, which is a culmination of our passion for the real estate business. We are seven projects and over 75 Vibeians strong. I would like to personally thank all our business partners, associates, and employees who have given their best to make us firmly stand on our feet during the first year itself. It was an exhilarating debut and a great start for the Group as we are on the path of becoming a profitable venture in a short span of time.
Vibe Realty is committed to achieve a meaningful position in Indian Real Estate Development in the coming times. This is just a stepping stone in our journey and team Vibe is geared up to significantly scale up in the coming years and deliver substantial value to all our stakeholders.”