Cherry Hill Interiors Ltd., India’s leading corporate interiors firm specializing in LEED certified projects has reported an order book value of approximately INR 120 Crore for the quarter ended June 30, 2014. This figure, as compared to INR 36 Crore for the quarter ended June 30th 2013, showcases a staggering increase of over 300%. This includes projects for reputed companies such as AON Hewitt, VM Ware, Dell, E&Y, Adobe, Marks & Spencer, Goldman Sacs, Bank of America Continuum Limited, Alshaya and others.
According to Mr. Rajiv Mohan, Managing Director, Cherry Hill Interiors Ltd., “Our positive results showcase our ability to bid and sustain high value projects. Industry reports suggest that various corporates are beholding to lease over 40 million sq. ft. of commercial space in the top 8-9 cities, spread over the next 12 to 18 months, which is a positive sign for us. In fact, with the formation of a stable government at the centre there is positivity among companies about revival of the Indian economy in the coming months. Over a 1-3 year horizon, we are likely to see an improvement in commercial space demand and absorption due to growth friendly Budget 2014, Stable Government in India and as “the economic conditions in the US and Western Europe are exhibiting signs of stabilizing”. This is likely to increase outsourcing business into India and attract new and support existing MNC’s to expand their operations throughout the country, which in-turn will result in improved performance of the corporate interiors sector. Therefore, we are expecting more and more companies to invest in office spaces in India and hence provide a one – stop solution to their complete corporate interior requirements. Buoyed by the market demand, we have also created a special Japan Service Desk (JSD) for Japan based companies planning to enter the Indian market.”
The corporate interiors sector in India has a market size close to 26-30 Mn sq ft space demand annually in metros and certain emerging cities in India. We expect the same to grow in emerging corporate hubs in and around Delhi NCR like Gurgaon and Neemrana (Japanese companies hub), Bangalore, Telangana, Pune, Coimbatore, Kolkata, Chandigarh and Jaipur. Having created over 20 million square feet of workspace seating more than 2.5 lakh professionals across the country, Cherry Hill has worked with leading Fortune 100 companies.
About Cherry Hill Interiors Ltd.
Established in 1987, today Cherry Hill is a leading pan-India player in corporate interiors and occupancy services. Cherry Hill’s journey has been one of rapid growth – from a single-location proprietorship firm to a technology and systems-led limited company with a pan-India presence and multiple ISO certifications. Over the years, Cherry Hill has successfully executed several milestone projects for leading global corporations such as Adobe, Airtel, Akzo Nobel, Apple, Amazon, Areva, Avanta, Bank of America, Bennett & Coleman, Boston Consulting Group, Dell, HP, British Council, Capgemini, Coca Cola, Ernst & Young, Fortis, Google, HP, Microsoft, Qualcomm, Reckitt Benckiser, SAP, Schneider, Shell, World Bank among others. Cherry Hill prides itself in having worked with one out of five among the Fortune 100 companies. Helping create over 20 million square feet of workspace, seating more than 250,000 professionals. We have gone beyond corporate offices to hospitals and hotels, and beyond interiors solutions, to offer comprehensive fit-out solutions, besides importing leading brands of furniture and furnishings from across the world.