Ashiana Homes

What Ashiana Homes does

Ashiana Homes Private Limited is a privately held, founder-controlled Indian residential real estate developer established in 1987 by R.K. Modi, with corporate headquarters in New Delhi and a registered office in Kolkata. The company develops mid-income housing — predominantly 2 BHK and 3 BHK apartments and villas — across a footprint that includes the National Capital Region (Gurugram, Ghaziabad, Indirapuram, Greater Noida), Jaipur (Rajasthan), Bhubaneswar (Odisha), Goa, and most recently Pune (Maharashtra) and Chennai (Tamil Nadu). Over 39 years, Ashiana has developed more than 46 lakh square feet of residential and commercial space and served over 4,500 families through project brands including Ashiana Mulberry, Ashiana Greens, Ashiana Elegance, Ashiana Regency, and Ashiana Regal. Its core customers are middle-income Indian families, with a new vertical targeting senior citizens.

The company operates a platform-plus-services model. The development arm delivers projects with notable technical and sustainability specifications — most prominently IGBC Gold precertification on the flagship Ashiana Mulberry Moments project in Gurugram, three-tier security with electronic surveillance, RERA-compliant project registrations across states (HARERA, ORERA), and app-based resident maintenance. A separate Facility Management Services vertical, operating for 18+ years, handles housekeeping, electro-mechanical maintenance, horticulture, club management, water supply, and security across completed communities, generating recurring service revenue and embedding Ashiana operationally within each project long after handover.

Ashiana monetizes primarily through one-time residential and commercial property sales (units in the Rs 37–89 lakh range at Sohna Road), supported by commercial property sales (e.g., Ashiana Royal Arcade's 190 shops and offices) and recurring facility management fees. Go-to-market is sales-led through direct project offices and named city-level channel partners, complemented by a content-marketing website, community events (Ashiana Utsav, Channel Partner Star Nights), and a resident referral program. Q3 FY26 recognized net sales reached Rs 361.85 crore (up 171.6% YoY) with net profit of Rs 56.65 crore (up 420.2% YoY), and Q4 FY26 booking value reached Rs 1,289.70 crore (up 124.4% YoY), supported by an April 2026 Pune land acquisition that adds ~20 lakh sq ft of saleable area and ~Rs 1,800 crore of pipeline sales potential.

Name

Ashiana Homes

Legal name

Ashiana Homes Private Limited

Website

https://ashianahomes.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

101–250 employees

Short description

Ashiana Homes is a privately held Indian residential real estate developer founded in 1987 that builds mid-income 2 and 3 BHK apartments and villas across NCR, Jaipur, Bhubaneswar, Goa, Pune, and Chennai, serving middle-income families and now expanding into senior living.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Residential Building Construction (2361), Real Estate Property Managers (53131), Residential Property Managers (531311)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Operators Of Apartment Buildings (6513), Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Multi-Family Residential Construction (Apartments, Condos, Townhomes) (IMAFABAB)

akta.pro secondary industries

Multifamily Apartment Property Management (BPAJAFAA), Residential Real Estate Asset Management (BPAJAMAA), Multifamily (Apartment) Property Management (BPAJAGAD)

Keywords

• Residential real estate
• Apartment development
• Senior living homes
• Facility management services
• Commercial property sales

Headquarters

HQ city

New Delhi

HQ country

India

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Residential Property Sales: Primary revenue from sale of residential apartments and villas across ongoing and completed projects in Gurugram, Jaipur, Bhubaneswar, and Goa
2. Facility Management Services: Comprehensive facility management services including housekeeping, security, maintenance, horticulture, club management, and water supply management for completed projects with over 18 years of experience
3. Commercial Property Sales: Sale of commercial spaces including shops and offices (e.g., Ashiana Royal Arcade with 190 shops and offices)

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Ashiana Homes is a real estate developer that designs, builds, and sells residential apartments, villas, and commercial properties (such as shops and offices) across multiple Indian cities, primarily targeting middle-income families. The company also offers long-term Facility Management Services for its completed communities, covering housekeeping, security, electro-mechanical maintenance, horticulture, club management, and water supply. The business spans a project pipeline across Gurugram, Jaipur, Bhubaneswar, Goa, Indirapuram, Ghaziabad, Greater Noida, and Pune.

Product overview

Ashiana Homes is a real estate developer offering a diversified portfolio of residential projects across multiple Indian cities including Gurugram, Jaipur, Bhubaneswar, Goa, and Indirapuram. The company operates a platform-plus-services model combining residential development with facility management. Core products include premium apartment projects (Ashiana Mulberry Moments, Ashiana Regency, Ashiana Elegance, Ashiana Regal) and multi-phase townships (Ashiana Greens, Ashiana Mulberry). Value-added services encompass facility management with 18+ years of experience, online payment gateway integration, and a referral program. The company focuses on mid-income housing with projects ranging from affordable 2 BHK to luxury 3 BHK apartments, targeting families and multi-generational households.

Differentiator

Problem solved

Functional benefit

Brands

• Ashiana Mulberry: Premium residential project brand in Gurugram featuring luxury apartments with IGBC Gold precertification, skydecks, and premium amenities.
• Ashiana Greens
• Ashiana Elegance
• Ashiana Regency
• Ashiana Regal

Products and services

• Ashiana Mulberry Moments Premium 3 BHK luxury apartments in Gurugram (Sohna) with IGBC Gold precertification, featuring a 35,000 sq.ft. club zone, Aravalli views, and sustainable design. Offers 3BHK+3T+SQ and 3BHK+3T configurations across 25 floors, targeted at premium middle-income and upper-middle-income families.
• Ashiana Regency Premium 3 BHK residential project in Bhubaneswar with 56 spacious apartments of approximately 1,850 sq.ft. each in G+14 floors, featuring a swimming pool, gymnasium, and community-centric amenities, plus app-based maintenance.
• Ashiana Elegance Luxury low-rise green living project in Bhubaneswar developed in collaboration with AGM Group, spread across 3 acres with 180 apartments in G+5 floors. Focuses on sustainability, community living, and app-based maintenance for residents.
• Ashiana Regal Multi-generational family residential complex in Bhubaneswar with 148 families, offering 2 BHK and 3 BHK apartments along with a clubhouse, gymnasium, and swimming pool. Sold out at launch.
• Ashiana Greens (Multiple Phases) Multi-phase residential project in Jaipur (and earlier in Indirapuram) featuring green living concepts with landscaping and community spaces, with units ranging from 264 to 323 apartments per phase. Phases 5 and 6 are currently ongoing.
• Ashiana Mulberry (Multiple Phases) Multi-phase residential project in Gurugram with completed Phase 1 (180 units, 2,62,220 sq.ft.) and ongoing Mulberry Moments project. Offers 2 BHK and 3 BHK apartments.
• Ashiana Upvan Completed residential project in Indirapuram with 441 apartments across 7.45 lakh sq.ft., commenced in January 2006 and completed in September 2009.
• Ashiana Royal Lagoon Completed residential project with 705 apartments totaling 11.50 lakh sq.ft., commenced in 2011 and completed in 2018.
• Ashiana Palm Court Completed residential project with 440 units and 5,61,000 sq.ft. saleable area, commenced in January 2007 and completed in June 2010.
• Ashiana Villa Anandam Completed villa project in Ghaziabad with 173 apartments across 3,50,000 sq.ft., commenced in June 2010 and completed in January 2014.
• Facility Management Services Comprehensive facility management services for completed Ashiana Homes projects, with 18+ years of experience. Services include housekeeping, three-tier security with electronic surveillance, electro-mechanical maintenance, horticulture, club management, and water supply management.
• Online Payment Gateway Secure online payment portal for property bookings and installments, supporting netbanking with HDFC, Kotak, SBI, Axis, ICICI and other banks, debit/credit cards, EMI options, mobile wallets, and UPI, with transparent per-transaction processing charges.

Quantifiable outcome

• 420.2% YoY increase in net profit to Rs 56.65 crore in Q3 FY26
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

One partnership is on record.

• AGM GroupcoreStrategic or Co-development PartnerAshiana Elegance in Bhubaneswar is presented by Ashiana in collaboration with AGM Group. This strategic partnership brings the concept of luxury low-rise green living to Bhubaneswar, with the project spread across 3 acres featuring 180 apartments.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• DLF Limited: India's largest listed real estate developer with extensive residential and commercial projects across multiple cities; directly comparable as a multi-city residential developer operating in NCR (Gurugram) where Ashiana is also active.
• Oberoi Realty: Mumbai-focused listed developer of premium residential apartments and commercial spaces; relevant for the same premium urban apartment product class as Ashiana Mulberry Moments and direct overlap in the luxury 3 BHK apartment segment.
• Tata Housing: Conglomerate-backed pan-India residential developer with premium and mid-market offerings; relevant for benchmarking a large, brand-driven developer operating in multiple cities with a comparable customer profile.
• Prestige Group: Large listed South-India developer of residential, commercial and retail properties across multiple cities; provides a comparable multi-city, mixed-use residential developer benchmark relevant to Ashiana's growth-city strategy.
• Lodha Group (Macrotech Developers): Large listed Indian residential developer focused on mid-to-premium housing across metros; comparable business model of large-scale multi-family development with mixed-ticket offerings, similar to Ashiana's premium mid-market positioning.
• Godrej Properties: Pan-India listed residential developer under a large conglomerate; comparable as a multi-city, multi-brand residential developer targeting middle and premium segments with sustainability positioning similar to Ashiana's IGBC focus.
• Brigade Enterprises: Listed South-India focused developer of residential apartments across Bengaluru and other cities; comparable as a multi-city residential apartment developer, and notably relevant given Ashiana's new Chennai expansion.

Direct peers

• Mahindra Lifespace Developers: Listed Indian developer focused on mid-to-premium residential projects under a large corporate parent; directly comparable in the middle-income segment Ashiana targets, with similar sustainability credentials.
• Sobha Limited: Listed Indian developer with backward-integrated construction and in-house interior/facility capabilities; highly comparable to Ashiana's combined development-plus-facility-management model and mid-to-premium apartment focus.

Emerging players

• Aaradhya Netralaya (SNN Estates / Senior Living comparables: e.g., Serene Retirement, Ashiana Senior Living competitors): Indian senior living operators such as Serene Retirement and Vatsalya are emerging comparables for Ashiana's new Pune senior living project; they overlap on the same niche demographic and care-services model that the Pune acquisition targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ashianahomes
• LinkedInlinkedin.com/company/ashiana-homes

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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 Ashiana Homes