Ashiana Housing Targets Senior Living Growth by 2030

Senior living becomes a central growth focus

Ashiana Housing Ltd is increasing its focus on senior living as it seeks to make the segment account for 50% of total revenue by 2030. The developer has operated in organised senior living since 2003 and describes itself as India’s number one senior living brand for nine consecutive years. Its model combines residential apartments with care services through Continuing Care Retirement Communities, or CCRCs. The company said more than 2,500 seniors live within its ecosystem. Senior living currently contributes 25% of Ashiana’s revenue, according to Joint Managing Director Ankur Gupta, while kid-centric homes account for 50% and normal residential sales make up the remaining 25%.

A care-led residential model

Ashiana’s senior living offering extends beyond apartment sales. Its Care Homes in Bhiwadi and Jaipur are supported by Care-at-Home services across communities. These services include assistance with bathing, medication management and mobility support. The approach is designed for residents who need varying levels of daily support while continuing to live in a community setting. The company says the segment commands a 10-15% price premium over regular housing, reflecting the inclusion of care and community services.

Existing portfolio and construction pipeline

The company has delivered more than 3,090 senior living units across India, while about 2,850 units are under construction. Nine senior living projects are live, according to the information provided. Ashiana already has an existing portfolio of 950 senior homes in Chennai and plans to develop another 3,000 senior homes in the city over the next six to seven years. In Bengaluru, the company has about 800 rooms signed up and plans to sign another 400-500 rooms. It also plans to enter Hyderabad, subject to closing a deal.

Land purchases support expansion plans

Ashiana made strategic land acquisitions in Chennai and Maharashtra during FY26, adding development potential of more than 26 lakh square feet. Its largest announced land transaction is a 28.55-acre Pune acquisition for a single senior living project. The company also operates Kairav Developers Ltd, a 50:50 joint venture with Arihant Foundations & Housing for the Ashiana Swarang project. Kairav acquired 10.44 acres on Chennai’s East Coast Road for a dedicated senior living development. Ashiana has also identified Mumbai, Bengaluru and Delhi NCR as markets for expansion.

FY26 senior living investment plan

In August 2025, Ashiana said it was considering a total outlay of INR 425 crore for senior living during FY2025-26. The planned spending covers landowner payouts, construction and execution costs, and other project-related expenses. The higher investment is linked to the company’s expansion into additional cities and its senior housing pipeline. The stated plan indicates that capital deployment will be directed toward project execution as well as land-related obligations. No project-wise allocation of the INR 425 crore outlay was provided in the supplied information.

Kid-centric homes remain the largest contributor

Kid-centric homes remain Ashiana’s biggest reported revenue contributor. The concept operates in Jaipur, Bhiwadi and two locations in Gurugram, including Ashiana Amarah, which was launched in 2022. Ashiana Amarah is a 22-acre project in Sector 93, Gurugram. The company said phase three, comprising 224 three-bedroom flats, was sold out within 15 minutes of launch. The projects are concentrated in a limited number of cities as Ashiana builds the category and retains operational control.

Operating approach and partner network

Ashiana treats land as raw material rather than as a speculative asset. Management targets land inventory equal to five to seven times its annual execution plan and prefers joint development agreements and financial co-investors over outright land purchases. The company keeps construction, marketing and lifetime maintenance in-house, while using channel partners in markets such as Gurgaon and Pune for sales capability. Its listed entity operates directly as well as through project-specific subsidiaries and joint ventures. Wholly owned entities include Latest Developers, Topwell Projects Consultants, Nitya Care Homes and Ashiana Maintenance Services LLP.

IFC participation and capital structure

The International Finance Corporation is a long-term co-investor in Ashiana’s affordable and senior living projects. Under an Investment Framework Agreement, IFC has committed up to INR 225 crore in non-convertible debentures on a project-by-project basis. Ashiana contributes 60% of the capital under this arrangement. IFC had deployed more than INR 142 crore across three projects by early 2023. This structure gives Ashiana access to project-linked funding while retaining its focus on controlled land inventory and execution.

What the expansion means for the housing business

Ashiana’s strategy reflects a push towards a segment where it already has a long operating history and an established care model. The company is expanding supply in Chennai, Pune and Bengaluru while evaluating Hyderabad, Mumbai and Delhi NCR. This comes as other developers also enter the category, including DLF and J Estates in Gurugram. DLF has said it is investing INR 2,000 crore in senior living homes, while J Estates has three premium senior living projects across eight acres and about 450 units. Ashiana’s expansion will therefore take place in a market that is attracting larger organised participants.

Outlook based on stated plans

The company’s near-term milestones include deploying the proposed FY2025-26 senior living outlay, progressing its land-led pipeline and increasing the segment’s sales mix. Its Chennai development plan and Bengaluru room sign-ups provide specific scale targets, while the Pune and Chennai land acquisitions support future project execution. Ashiana has not provided a timeline for achieving its 2030 revenue-mix target beyond its stated expansion plans. The next confirmed developments will depend on project launches, land transactions and construction progress across the identified markets.