County Group

County Group — Developer Research Report

Disclaimer: County Group is an unlisted private entity. No public financial disclosures, credit ratings, or audited balance sheets are available. Financial figures quoted are based on publicly reported project-level data and media statements by promoters. Buyers should independently verify all data points before making decisions.

Company Overview

County Group is a Delhi NCR-focused residential real estate developer, established in 2005 and formed by the promoters of ABA Corp. The group operates primarily in Noida, Greater Noida West, and Ghaziabad, and has positioned itself squarely in the mid-premium to ultra-luxury segment. It is an unlisted, privately held entity with no publicly available credit rating or debt disclosures. NewindiarealestateRealtytantra

The group claims to have developed approximately 160 lakh sq. ft. of space, with an additional 161.18 lakh sq. ft. currently under construction. Prop News Time

Promoter Profile & Background

County Group is a three-member body comprising Mr. Manoj Ramsisaria, Mr. Amit Modi, and Mr. Avnish Agarwal. Myrealestate

Manoj Ramsisaria handles procurement and on-ground execution. He holds a degree in Commerce and has been credited with implementing ERP systems and automated lead management within the organization. Countygroup

Amit Modi serves as Director and is the primary public spokesperson for project launches and strategic decisions.

Avnish Agarwal is the third co-promoter with shared oversight.

Other Ventures: The group's origins are rooted in ABA Corp., which had earlier developed projects including Cleo County, Olive County, Orange County, and Cherry County. It is unclear whether ABA Corp. and County Group operate as fully separate legal entities or under a shared promoter umbrella — this distinction matters for understanding liability and debt ring-fencing. No other significant unrelated businesses have been publicly disclosed by promoters, and no confirmed ongoing criminal or regulatory proceedings against promoters were identified through public searches.

⚠️ Promoter corporate structures, related-party transactions, and cross-entity financial arrangements are not publicly disclosed given unlisted status. Buyers should independently verify through RERA filings and MCA records.

Financial Health & Debt Profile

County Group is unlisted and does not publish audited financials. No credit rating from CRISIL, ICRA, or India Ratings is publicly available.

What is known:

• For Ivory County alone, the group plans to invest ₹5,000 crore over five years, funded through a mix of self-funding, bank financing, and customer advances. Business Standard
• The expected sales realization from Ivory County is approximately ₹7,500 crore. GHAR

Debt Concerns:

• A significant portion of project construction is self-described as reliant on customer advance collections — a model common in Indian real estate but one that creates cash-flow dependency on steady bookings.
• Actual debt quantum, loan-to-value ratios, and borrowing costs from banks are not publicly disclosed.
• The blend of bank financing plus customer advances for a ₹5,000 crore project signals meaningful leverage, though exact numbers cannot be confirmed without MCA filings.

⚠️ Absence of disclosed debt does not mean absence of debt. Prospective buyers should check RERA quarterly disclosures on the UP RERA portal for project-level construction progress and fund utilization.

Land Bank & Project Portfolio

Completed / Delivered Projects:

• Orange County – Indirapuram, Ghaziabad
• Cherry County – Greater Noida West
• Olive County – Sector 1, Greater Noida West
• Cleo County – Sector 121, Noida
• Coco County – Sector 10, Greater Noida West (12.21 lakh sq. ft.)
• Ivy County – Luxury project (14.74 lakh sq. ft.)
• County 107 – Noida Sector 107

These three projects — Coco County, Ivy County, and County 107 — collectively catering to more than 1,600 families, were delivered within a single year, with all three delivered before their committed RERA timelines. Elets eGov

Active / Under Construction:

• Ivory County – Sector 115, Noida, 28 acres, 2,372 units across three phases. RERA registrations: Ph-1 UPRERAPRJ256314, Ph-2 UPRERAPRJ115902, Ph-3 UPRERAPRJ507062. Phases 1 and 2 have a RERA-committed possession date of December 2028; Phase 3 is targeted for December 2029. Construction uses Mivan technology. 360 PropGuide
• Jade County – Wave City, NH-24, Ghaziabad. RERA registered (Phase 1 & 2).
• Clove County – Active listing in Noida portfolio.

Pricing Context (as announced at launch — verify current rates with developer):

• Ivory County prices were set at ₹14,000/sq. ft., while Ivory County Gold was set at ₹16,000/sq. ft., with unit sizes ranging from 2,034 to 6,939 sq. ft. Business Standard

Construction & Operations

Ivory County uses Mivan technology for construction, which is an aluminium formwork system known for faster construction cycles and better structural finish. The group appears to use third-party civil contractors alongside an in-house execution team. No major disclosed disputes with contractors have been reported publicly. 360 PropGuide

The group claims to maintain an in-house team covering planning, architecture, civil engineering, and ERP-based project management — though third-party construction audits are not publicly available.

Delivery Track Record & Customer Perspective

This is one of County Group's stronger metrics relative to peers in Noida NCR.

• The group claims zero RERA complaints to date, with all recent major projects delivered ahead of their committed RERA timelines. Elets eGov
• A significant portion of Ivory County bookings reportedly came from buyers within existing County Group projects seeking a lifestyle upgrade, which suggests strong repeat-buyer confidence. Prop News Time

⚠️ The "zero RERA complaints" claim originates from the developer's own communications and press releases. Buyers are strongly advised to independently verify complaint status on the official UP RERA portal (www.up-rera.in) using each project's RERA registration number before relying on this figure.

Legal & Litigation Status

No confirmed ongoing litigation against County Group, its promoters, or its projects was found in public court records or RERA order databases during this research. No NCLT insolvency proceedings, tax disputes at High Court level, or regulatory violations were identified.

⚠️ Absence of findings does not guarantee a clean legal record. Buyers should independently check:

• UP RERA complaint orders at www.up-rera.in
• MCA filings for each SPV/entity under the County Group umbrella
• District Court records in Gautam Buddha Nagar

Market Position & Competitive Landscape

County Group occupies a niche between mid-market NCR developers and the premium luxury segment. In Noida's Sector 115 and the Greater Noida West corridor, it competes with Gaur City, Mahagun, ATS, and Godrej Properties on the higher end.

No independent third-party market share data is publicly available for County Group specifically. Its brand recognition is strong among repeat NCR buyers, but it remains regionally concentrated — with no disclosed presence outside Delhi NCR. The group's pivot toward ultra-luxury (Ivory County at ₹3 crore–₹12 crore per unit) represents a segment shift from its earlier mid-range positioning under ABA Corp.

Joint Ventures, Partnerships & Strategy

No formal JV agreements with external partners or institutional investors have been publicly disclosed. The Ivory County project is described as internally promoted with bank financing and customer advances. There is no disclosed partnership with a PE fund, NBFC, or institutional co-developer.

Strategic Direction:

• Deepening presence in premium Noida sectors (107, 115, 151)
• Entering Wave City corridor on NH-24 with Jade County
• The group has announced a significant investment of ₹5,000 crore in Sector 115 Noida for Ivory County as its flagship project for the next five years Elets eGov

Key Risks

• Financial opacity: Private entity with no public debt disclosures or credit ratings
• Execution concentration risk: Multiple large projects running simultaneously — Ivory County (2,372 units), Jade County, Clove County — strains execution bandwidth
• Customer advance dependency: Heavy reliance on booking cash flows to fund construction is standard in NCR but creates vulnerability if sales slow
• Regional concentration: Entire portfolio sits in Delhi NCR; no geographic diversification
• Luxury segment timing: Pivot to ultra-luxury coincides with broader NCR luxury supply surge from Godrej, DLF, and others

Summary Scorecard

• Delivery track record: Strong (pre-RERA timeline delivery on multiple projects)
• RERA compliance: Appears clean; verify independently
• Financial transparency: Low (unlisted, no disclosed financials)
• Promoter track record: Multi-decade presence in NCR; no known legal issues
• Debt visibility: Not disclosed; project-level leverage is material
• Scale: Mid-tier regional developer; not a pan-India player

Report compiled using publicly available sources including UP RERA, press releases, Business Standard, and developer communications. All figures should be independently verified. This report does not constitute an investment or purchase recommendation.