Sheth Corp

What Sheth Corp does

Ashwin Sheth Group (legally Sheth Developers Pvt. Ltd.) is a Mumbai-headquartered luxury real estate developer founded in 1986, operating across Mumbai, Thane, Pune, and Dubai. The group has delivered 80+ projects totaling 35-38 million sq. ft. and serves 25,000+ families, with a portfolio spanning luxury residential towers (Edmont, Avalon, Montana, Zuri, Vasant Lawns, One Marina), mixed-use and commercial developments (Cnergy Prabhadevi with tenants including JM Financial and Floritree Advisors), large-scale retail (Viviana Mall in Thane, ~1 million sq. ft.), and integrated townships. International assets include Iris Bay and Iris Blue towers in Dubai.

The company's technology stack is anchored by an SAP S/4HANA ERP (being implemented via Highbar Technocrat and expected live from July 2024), Salesforce CRM, and the HONO HR platform with GenAI-enabled chatbots for employee queries, supplemented by predictive AI embedded in smart-home residential units to auto-adjust home settings based on resident habits. A customer-facing SMART APP supports the "The Orange Circle" loyalty ecosystem spanning 250+ partner brands with loyalty, referral, corporate, and NRI program tiers.

Revenue is generated primarily through one-time residential unit sales (units priced ₹1.57-2.09 crore; flagship One Marina carries a ₹2,800 crore GDV), supplemented by recurring commercial leasing and retail mall operations. The sales-led go-to-market targets luxury homebuyers, HNWIs, and NRIs through direct field sales teams, a dedicated NRI sales program, and participation in property exhibitions such as India Property Show. FY23-24 sales revenue reached ₹1,486 crore, a 3x year-over-year increase. PAG extended a ₹540 crore debt facility earmarked for One Marina, and the group has signaled plans for an ₹2,500-3,000 crore IPO within 18-24 months.

Name

Sheth Corp

Legal name

Sheth Developers Pvt. Ltd.

Website

https://ashwinshethgroup.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

251–500 employees

Short description

Ashwin Sheth Group is a Mumbai-based luxury real estate developer founded in 1986, operating across Mumbai, Thane, Pune, and Dubai with 80+ projects spanning 35-38 million sq. ft., serving affluent homebuyers, HNIs, and NRIs through premium residential, commercial, and retail developments.

Ownership category

akta.pro rank

Product category

Luxury Real Estate Development

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311)

SIC

Real Estate (6500), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Residential Real Estate Asset Management (BPAJAMAA)

akta.pro secondary industry

Multifamily (Apartment) Property Management (BPAJAGAD)

Keywords

• Luxury real estate
• Residential development
• Commercial property leasing
• Township development
• Premium apartments

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Residential Property Sales: Primary revenue stream from sale of luxury and premium residential units across Mumbai, Thane, Pune, and Dubai projects. One-time transaction-based revenue model.
2. Commercial Property Sales: Sale of commercial office spaces in projects like Cnergy Prabhadevi and other commercial developments.
3. Commercial Leasing: Recurring revenue from leasing commercial spaces in owned retail and office properties including Cnergy Prabhadevi.
4. Retail Mall Operations: Revenue from retail mall operations and tenant leasing in commercial complexes.
5. Township Development: Large-scale integrated township developments generating revenue through plotted sales and villa offerings.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels5 records

Core offering

Ashwin Sheth Group (Sheth Corp) develops, sells, and leases luxury and premium residential, commercial, retail, and township real estate across Mumbai, Thane, Pune, and Dubai. Core offerings include branded high-rise luxury apartments (e.g., Sheth Avalon, One Marina, Montana, Edmont), mixed-use and integrated township communities (Vasant Lawns, EDMONT), commercial office and retail developments (Cnergy Prabhadevi, Viviana Mall), and Dubai residential towers (Iris Bay, Iris Blue). The Orange Circle community/loyalty program supports residents, partners, and NRIs across 250+ partner brands.

Product overview

Ashwin Sheth Group operates as a luxury real estate developer offering a diverse portfolio of residential and commercial projects across Mumbai, Thane, and Dubai. The product portfolio consists of ongoing luxury residential developments including Edmont (Kandivali), Avalon, Montana (Mulund), Zuri, Cnergy, Vasant Lawns (Thane), and 72 West (Andheri), alongside completed landmark projects such as Viviana Mall (Thane), Iris Bay and Iris Blue (Dubai), and Beaumonde. The company also offers The Orange Circle, India's first inclusive community program providing loyalty benefits, referral programs, and NRI services across 250+ partner brands. Recent launches include the premium One Marina tower in Marine Lines and FERN at Vasant Lawns. Projects span luxury apartments, mixed-use developments, commercial spaces, and retail developments, with configurations ranging from 1BHK to 4BHK and Jodi (duplex) flats.

Differentiator

Problem solved

Functional benefit

Products and services

• Edmont (EDMONT Aurelia) Mixed-use residential development in Kandivali West featuring a 51-story skyscraper with integrated retail spaces, offering 2, 3 BHK and Jodi flats. Targeted at premium homebuyers and investors.
• Sheth Avalon Luxury residential project offering premium living spaces, recognized with 'Best Upcoming Residential Project' (CIA World Construction and Infra Award) and 'Luxury Residential Development' (International Realty Awards 2023).
• Sheth Montana Luxury residential development in Mulund, part of Thane's Platinum Belt, featuring palatial residences integrated with nature.
• Sheth Zuri Luxury residential project in Thane West, completed and delivered to homeowners.
• Sheth Cnergy Commercial and mixed-use project available in both Thane and Prabhadevi (Mumbai) locations. Commercial tenants include JM Financial and Floritree Advisors Pvt Ltd.
• Sheth Vasant Lawns (FERN) Iconic gated community in Thane's Platinum Belt spanning 7 acres with nine towers, home to over 550+ families with 40% open green spaces and 25+ amenities. FERN is the ninth and final tower offering 32-floor residences.
• 72 West Completed 33-storey residential project in Andheri offering 1 BHK, 2 and 3 bedroom residences.
• Sheth Avantè Completed 15-storey residential project in Kanjurmarg West offering 1, 2 and 3 bedroom residences starting from 448 sq. ft.
• Sheth Midori Completed 12-26 storey residential project in Dahisar East offering 1.5 and 2 bedroom residences starting from 557 sq. ft.
• Viviana Mall 1 million sq. ft. retail mall in Thane West, completed in 2013, a major landmark and shopping destination operated with retail mall operations and tenant leasing.
• Iris Bay 32-storey residential tower in Dubai, part of Ashwin Sheth Group's international portfolio.
• Iris Blue 30-storey residential development in Dubai.
• The Orange Circle India's first inclusive community/loyalty program by Ashwin Sheth for homeowners, residents, partners, vendors and well-wishers, offering rewards across 250+ brands and encompassing loyalty, referral, corporate and NRI programs.
• One Marina 74-storey luxury residential tower in Marine Lines, South Mumbai with estimated gross development value of ₹2,800 crore. Joint venture between YM Infra and Ashwin Sheth Group; expected to be the tallest residential tower in its micro-market.

Quantifiable outcome

• 25,000+ families served across 80+ projects
• +1 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability4 records

Partnerships

Eight partnerships are on record, tiered major, minor and core.

• ChlorophyllmajorGTM or Marketing Partner · 1 January 2024Brand consultancy partner responsible for new logo and branding initiative, including brand identity redesign and strategic positioning.
• Gozoop GroupminorGTM or Marketing Partner · 1 January 2024Marketing campaign partner for multi-channel marketing initiatives including Times Square billboard campaign featuring Sonam Kapoor.
• Realatte VenturesminorGTM or Marketing Partner · 1 January 2024Campaign video production partner for marketing content creation and promotional materials.
• YM InfracoreStrategic or Co-development Partner · 1 January 2023Strategic partnership with YM Infra for the One Marina luxury tower project valued at ₹2,800 crore, representing a flagship joint development initiative.
• K HemanicoreStrategic or Co-development Partner · 1 January 2023Joint venture partnership with K Hemani for EDMONT project development, representing core strategic co-development collaboration.
• Highbar TechnocratmajorTechnology or Integration · 1 January 2023SAP S/4HANA implementation partner providing enterprise resource planning technology infrastructure for operational efficiency.
• HONOmajorTechnology or Integration · 1 January 2023HR solutions partner providing human resources technology and services for workforce management.
• Khushiyaan FoundationminorOthers · 1 January 2023CSR and donation partner for corporate social responsibility initiatives and community development programs.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Oberoi Realty: Mumbai-focused luxury and premium residential developer with a strong brand and high-rise portfolio (e.g., Three Sixty West, Sky City). Directly comparable to Ashwin Sheth in product positioning, Mumbai micro-market focus, and luxury pricing.
• Hiranandani Group: Premium and luxury developer with landmark townships and high-rises in Thane and Powai. Highly comparable to Ashwin Sheth in product, customer segment, and Thane 'Platinum Belt' geography, including shared talent flows (Ashwin Sheth's CPO was ex-Hiranandani).
• Prestige Estates Projects: Listed Indian developer with a broad luxury and premium residential portfolio plus commercial and retail assets. Comparable to Ashwin Sheth in luxury positioning and product mix, and a prior employer of Ashwin Sheth's CDO.
• Shapoorji Pallonji Real Estate: Indian luxury and premium residential developer with a national footprint. Comparable in product positioning (luxury apartments, villas) and customer segment (HNIs/NRIs) to Ashwin Sheth's portfolio.
• Phoenix Mills Limited: Mixed-use developer combining high-end retail malls (High Street Phoenix) with premium residential. Comparable to Ashwin Sheth on the commercial/retail side (Viviana Mall, Cnergy) and a former employer of the CDO.
• Sunteck Realty: Mumbai-centric luxury developer with projects in Bandra, Goregaon, and other western suburbs. Directly comparable to Ashwin Sheth in geography, luxury positioning, and high-rise product, and a prior employer of the CDO.
• Kalpataru Limited: Mumbai-based real estate developer with luxury and premium residential projects. Comparable to Ashwin Sheth in product, target customer, and Mumbai micro-markets, and a former employer of Ashwin Sheth's CSMO.

Broad incumbents

• Lodha Group (Macrotech Developers): India's largest listed residential developer with a deep luxury and premium portfolio across MMR. Overlaps with Ashwin Sheth in luxury high-rise apartments and townships in the same micro-markets but at a far larger scale.
• Godrej Properties: Pan-India listed residential developer with a strong premium and luxury book. Competes with Ashwin Sheth in multiple metros and benefits from deeper capital markets access and brand strength.
• Sobha Limited: Listed Indian developer known for premium and luxury apartments with in-house construction. Comparable to Ashwin Sheth in premium pricing tier and quality positioning, though with a southern India focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCW7PBDljlbTw1c1vB9QuDuQ
• Facebookfacebook.com/ShethGroupLtd
• LinkedInlinkedin.com/company/sheth-corp-pvt-ltd
• Instagraminstagram.com/ashwinshethgroupltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sheth Corp