Friday, January 8, 2010

Aliens Group to launch affordable housing projects

Hyderabad-based developer Aliens Group (Hari Challa, Managing Director) is diversifying into new verticals to expand its presence. To start with, the company that till now focused on medium and premium segment integrated township projects in Hyderabad is pl­anning to launch affordable housing projects. It is also looking at selling plots at affordable prices.

The affordable housing project under the name O2 is going to be developed as part of the company’s integrated township-Aliens Space Station 2. Coming up near the GMR International Hyderabad airport at Shamshabad, which is about 30 km from the central business district, the project is awaiting government appro­vals. O2 will offer flats priced between Rs 20 and Rs 30 lakh, against Space Station 2 that will offer flats in the range of Rs 30-45 lakh.

Hari Challa, MD and Co-founder of Aliens Group, said, “Ideally, we want to come up with projects targeted at the masses. Originally, our plan was to offer 400 units under O2 but now with changed market conditions, we will have to assess the demand-supply situation. The number of units could go up in O2. Even our plotting venture will be targeted at masses as we will sell land under Rs 10 lakh bracket as well.” Aliens Group is looking at acquiring land near the international airport.

At present, the company has five completed residential projects in Hyderabad. Besides, the company is working on an integrated township project - Aliens Space Station 1 - that boasts of being the first residential project in the state with 30 floors. Space Station 1 saw an investment of Rs 700-800 crore and is expected to be ready by 2011. Space state 1 is coming up in Gachibowli, which is the IT hub of the city.

Ongoing projects include Space Station 2 and Aliens Hub. Aliens Hub is a long-term integrated township project with a timeline of 10-15 years. Aliens Hub will comprise high-rise apartments, 18 hole golf resort, airstrip, helipad, SEZs and corporate office blocks. Till date, the company has funded all its projects through internal accruals, promoter equity and debt.

Further Aliens Group is planning to get aggressive with its infrastructure division. The company entered into infrastructure business in 2008-end that operates under the name Aliens Infratech. The latter has bagged an order worth Rs 20 crore from Railways to build embankments at Cuddapah district in Andhra Pradesh. “We are bidding for more railway contracts in Gujarat and Maharashtra among other states. Under infrastructure segment, railways is going to be an area of thrust for us,” said Challa.
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