### **Overview** Hubtown Limited, established in 1989 and listed on the NSE and BSE since 2007, is a prominent Indian real estate developer with a strong reputation for timely project delivery, modern infrastructure, and customer-centric development. The company operates primarily across the **Mumbai Metropolitan Region (MMR)** — with significant presence in Mumbai, Thane, and Chembur — and maintains strategic, growing operations in **Pune and Gujarat**. It is known for its diversified portfolio spanning **value, luxury, and super-luxury segments**, including residential, commercial, industrial (IT Parks), and infrastructure projects. --- ### **Core Business and Operations** Hubtown manages the entire real estate lifecycle in-house, from **land acquisition and regulatory approvals to construction, marketing, and sales**. It operates through a flexible business model, executing projects as standalone developments, joint ventures (JVs), development management contracts, or public-private partnerships (PPPs). Key market segments: - **Ultra-luxury and premium residential** - **Weekend homes and low-density plotted developments** - **Commercial office spaces and IT parks** - **Slum rehabilitation and urban renewal projects** - **Affordable and government housing under PPP frameworks** Hubtown also has interests in **transport infrastructure**, with multiple bus terminal developments in Gujarat. --- ### **Portfolio and Project Pipeline (As of Nov 2025)** - **Total delivered projects:** 47 - **Total developed area:** Over **14 million sq ft** (including 12.6 million sq ft of saleable area) - **Ongoing projects:** ~7.1 million sq ft under development - **Development pipeline:** ~**31 million sq ft** of buildable area - **Launch-ready land bank:** **23.1 million sq ft**, overwhelmingly located in prime MMR locations The company owns one of the **largest private land holdings in Mumbai**, particularly in premium micro-markets like South Mumbai, Bandra West, and Prabhadevi, positioning it strongly in the ultra-luxury segment. --- ### **Flagship and Strategic Projects** #### 🏙️ **25 Residences Brand (Ultra-Luxury Portfolio)** This premium branded series includes: - **25 South (Prabhadevi):** - 3 towers on 5.5 acres of freehold land between Siddhivinayak Temple and Mahim Bay. - Average carpet area: ~3,500 sq ft; units up to 18,000 sq ft. - Tower 1 delivered ahead of schedule; remaining two under construction (completion by Dec 2026). - >90% pre-sold to high-net-worth individuals (CXOs, industrialists, bankers). - **25 Downtown (Mahalaxmi):** - Large-scale urban renewal project in South Mumbai’s Golden Triangle (3.6 million sq ft). - Combines luxury housing with government-mandated rehabilitation; over 50% sales in launched towers. - Designed by Hafeez Contractor; interiors by Bobby Mukherji & Associates. - Features 30+ high-end amenities across 120,000 sq ft. - **25 West (Bandra West, Mount Mary):** - 4.5-acre redevelopment project combining SRA and society redevelopment. - ~600,000 sq ft of super-luxury residential space with sea views. - Units from 2,800 to 20,000 sq ft; min. price ₹20 crore per unit. - One tower under construction, first phase launched; full completion by Dec 2030. - **Future Launches (FY27):** - **25 Vistas (Thane):** 7-acre luxury project between Upvan Lake and Yeoor Hills; 1 million sq ft development; private lift lobbies; lake and forest views. - **25 Estates (Khalapur, Western Ghats):** 175-acre weekend home project with 160 low-density villas (<1 house per acre), priced from ₹25 crore; plug-and-play interiors; no rentals permitted. - **Breach Candy Boutique Residential (Mumbai):** PPP project with MCGM; ~40,000 sq ft of free-sale area; 3,000 sq ft luxury residences with 270° sea views; launch expected FY27. #### 🏗️ **Ongoing and Upcoming Residential Developments** - **Hubtown Seasons (Chembur):** - Mixed-use project; Phase 1 nearly complete. - Phase 2 (FY26) to feature 4 & 5 BHK premium residences — largest in the micro-market. - **Hubtown Rising City (Ghatkopar):** - 5-acre, 6-tower development with 650,000 sq ft of 1–3 BHK units. - ~75% sold; occupancy certificates for 2 towers; completion by FY26. - Includes 1 million sq ft of **free government housing** under PPP with Maharashtra govt. - Funded by SWAMIH Initiiative; offers 40+ lifestyle amenities. - **Hubtown Premiere (Andheri West):** - 5.5-acre project across 5 towers (~500,000 sq ft). - 98% sold; 2 towers and retail space complete. - Includes 500,000 sq ft of free govt. housing under PPP. - Completion by Dec 2026; funded by Edelweiss. #### 🏢 **Commercial and Office Developments** - **Ghatkopar Office Park:** - Part of Rising City; flexible workspaces targeting SMEs and large enterprises. - Strategic location with airport and highway connectivity. - Launch planned for **FY27**; includes 4 acres of gardens, retail, and club facilities. - **Built-to-suit offices and IT parks:** - Focus on enterprise demand in Mumbai; includes India’s first privately registered IT park. - Expanding into Mumbai, Thane, and Gujarat. - **Sunstream City (Mulund-Thane):** - Planned 150-acre integrated township; 30 million sq ft (50% residential, 50% commercial). - **Walk-to-work** concept; 5-minute walk to Thane Station. - Approvals in place; construction not started. - Hubtown holds **42% stake**. - **Pune Projects:** - **27 West, Balewadi:** 2.5-acre development on Mumbai-Pune Highway; 378,000 sq ft saleable area. - Revenue potential: ₹6.0–6.2 billion; completion by Dec 2027. - Joint execution with Sanas Group (development management); Hubtown is landowner. --- ### **Land and Strategic Expansion** - **Expanding footprint** in Mumbai, Thane, MMR, Pune, and Gujarat. - **Recent acquisition** of 100 acres adjacent to 25 Estates, increasing land aggregation potential. - **Highly strategic land bank** in Mumbai ensures long-term growth without new land acquisitions or debt dependency. - Strong focus on **plot-based developments, second homes, slum rehab, and brownfield redevelopment**. --- ### **Financial and Strategic Priorities (FY26–FY27)** - **Debt reduction:** Target to become **zero-debt** within 24–30 months using operating cash flows. - Over 50% expected to be cleared within 12 months (post-completion of 25 South and Rising City). - Refinancing, equity raises, and project monetization have already reduced corporate debt by **over 76%**. - **Complete amalgamation process** by FY27 to streamline corporate structure. - **Accelerate new launches** in the ultra-luxury and commercial segments. - **Monetize non-core assets** and optimize capital structure. --- ### **Leadership and Corporate Structure** **Promoter Family & Leadership:** - **Hemant Shah (Chairman):** Civil engineer with 45+ years of experience; Harvard alumnus; pioneer of slum redevelopment and vertical robotic parking in Mumbai. - **Vyomesh Shah:** Chartered accountant; oversees finance and compliance. - **Rushank Shah:** Head of sales and marketing. - **Khilen Shah:** In charge of fundraising and legal. - **Kushal Shah:** Project development and execution. The leadership combines **engineering, financial, and global realty expertise**. **Subsidiaries and Joint Ventures:** - **Wholly-owned:** Twenty Five Estates Realty, Diviniti Projects, Rare Townships (72.91%), Citywood Builders. - **Key JVs:** - Sunstream City Pvt Ltd (42%) - Akruti GM JV (77% stake, ₹700.89 lakhs) - Whitebud Developers (50%), Giraffe Developers (48%) - Hubtown Bus Terminal entities in Gujarat (45% average stake) As of March 2025: - **Total investment in JVs:** ₹3,061.68 lakhs - **Share of losses from JVs:** ₹87.36 lakhs (FY25), improved from ₹218.65 lakhs (FY24) - **Contingent liability:** Reduced drastically to ₹206.13 lakhs (from ₹4,019 lakhs) --- ### **Investment Highlights** ✅ **Prime land bank** in Mumbai and MMR – significant competitive moat ✅ **Strong execution track record** (47 projects delivered) ✅ **Diversified portfolio** across segments, geographies, and business models ✅ **Brand leadership in ultra-luxury real estate**, especially in South Mumbai ✅ **Strategic PPP and redevelopment expertise** ✅ **Clear path to zero debt** and strong cash flow visibility ✅ **High-value upcoming launches** in FY26–FY27 with premium pricing power ---