Mumbai-based Usha Breco Realty, the real estate arm of the Kolkata-headquartered $800 million Usha

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Martin Group, is all set to foray into the affordable housing segment. Usha Martin is a leading manufacturer of wire ropes.

Usha Breco Realty chief executive officer, Uday Dharmadhikari, said, “We plan to focus on the affordable housing segment as it offers strategic and lucrative opportunities in present market conditions. We want to become a leading real estate developer in the Indian realty space. We are keen to partner with the best to bring in the highest level of professional practices from across the world.”

Usha Breco Realty, is at present, involved in various projects, including a multi-tenanted IT building in Kolkata with a total capital outlay of Rs 75 crore. It is also working on a Rs 175 crore integrated residential-cum-commercial project in Ranchi in Jharkhand.

“Our present focus is on timely and proper implementation of projects under construction that have an estimated budget of over Rs 250 crore. We focus on property development through joint ventures under a profit/revenue sharing arrangement,” Dharmadhikari said.

Andrew Seys Llewellyn, advisor, Usha Breco Realty, said, “With the strength of domestic markets and demand for new types of residential properties, we want to concentrate on the affordable value housing segment to keep pace with market conditions.”

“The company plans to expand its presence to other cities such as Pune, Chandigarh, Bangalore, Delhi and national capital region (NCR), and areas in the outskirts of Mumbai,” Llewellyn disclosed.

Usha Breco (UBL) was set up as a joint venture between Usha Martin Industries and British Ropeway Engineering (Breco) of the UK. The company was floated to offer specialised management and advisory services with a special focus on programme management in the real estate and infrastructure creation sectors.

“We also offers services that help property developers, investors and multinational tenants maximise their property objectives, he pointed out.

The segments Usha Breco covers include commercial offices, special economic zone/free trade zone, IT parks, infrastructure projects, hotels and resorts, highways and roads, industrial projects, urban infrastructure like water supply, sewage, integrated water treatment, irrigation and township.

At present, it operates five passenger ropeways at Maa Mansadevi Udan-khatola (Hardwar, Uttaranchal), Maa Cha-ndidevi Udankhatola (Hardwar, Uttaranchal), Maa Mahakalika Udan-khatola (Pawagadh, Gujarat), Maa Ambaji Udankhatola (Ambaji, Gujarat), Malampuzha Udankhatola (Malampuzha Gardens, Kerala).