Mega Realty Brands Aiming For Sky High Growth

Vinod Behl

Several big and branded real estate developers across India including  Godrej Properties, Prestige Estates, Shapoorji Pallonji Real Estate, Sobha Limited, L&T  Realty, Max Estates, Brigade Enterprises, Shriram Properties are embarking on big expansion plans to drive significant growth.

In a big move, Mumbai-based Shapoorji Pallonji Group is out to unlock Rs 50000 crore value by consolidating and monetizing its real estate holdings spread across 20000 acres in key property markets. According to Venkatesh Gopalakrishnan MD & CEO, SPRE, the new entity whose assets are primarily housed in key markets of Mumbai, Bengaluru, Pune, Kolkata, Gurugram, besides land holdings in Nagpur and Mysore, will enable value creation and proper capital structuring to help achieve high growth.

Another leading Mumbai-based real estate developer, Godrej Properties is aiming for 20 percent growth in sales bookings to Rs 27000 crore this fiscal by launching  Rs 21000 crore of residential projects. The listed real estate company has already launched projects totalling Rs 9000 crore in Q1 FY25 and according to Pirojsha Godrej, Chairperson, Godrej Properties, the company is targeting to launch projects worth Rs 30000 crore in the current fiscal.

As part of its expansion plans, Mumbai-based L&T Realty, a property development arm of Larsen & Toubro is developing a Rs 20000 crore real estate project in association with  Valor Estate (formerly DB Realty). Spread over 10 acres, this mega mixed-use project in Bandra-Kurla Complex (BKC) Mumbai will have premium housing, and commercial spaces, besides a 5-star hotel property.

Bengaluru-based South Indian giant, Sobha  Group which achieved sales bookings of Rs 6644 crore in FY 24, is embarking aggressively on its expansion plans, targeting annual sales of Rs 30000 crore in the next 4-5 years, registering a four-fold jump. Its expansion plans include its foray into the Mumbai market to undertake development through a joint development model as well as through outright land purchase.

Another real estate major from Bengaluru, Brigade Enterprises, riding high on Rs 6013 crore of sales in FY 24 and a robust 6.18 million square feet of new launches, is seeking to leverage strong demand by doubling its four-quarter launch pipeline to 12.6 million square feet, with a gross development value of Rs 13000 crore. It is also looking at the expansion of its hospitality portfolio, taking it to about 2500 rooms in the medium term by adding 1000 more rooms.

Bengaluru-based Shriram Properties Limited (SPL)  is charting a R 2000 crore expansion plan, taking its total footprint to 62 million square feet in the next 3 years. According to Gopal Krishnan, Executive Director & Group CEO, SPL, the company primarily catering to the mid and mid-premium segment has a pipeline of 42 projects with the potential to develop 42 million square feet of properties. It is targeting 5000 crore of annual sales by FY27.

Prestige Estates, a renowned name in real estate from Bengaluru is undertaking a new phase of expansion to boost its annuity portfolio following the sale of a large part of its office and retail assets to Blackstone for USD 1.6 billion. Currently, it is developing a large mixed-use project at Aero City in Delhi comprising 6 lakh square feet of office space, 2.25 lakh square feet of convention space and two hotels. Its upcoming launches in Delhi-NCR include a luxury housing project in Delhi, A township project in Indirapuram Ghaziabad and a housing project in Noida.

Delhi- NCR’s corporate real estate developer, Max Estates is investing Rs 2000 crore to develop  2.8  MSF of commercial space and serviced apartments in Delhi One, a commercial project in Noida spread over  12.5 acres. The project started by 3C  had gone into insolvency and last year the National Company Law Tribunal  (NCLT)  had approved a resolution plan for Max Estates for developing Delhi One.

In Delhi -NCR, Gurugram-based M3M India has achieved a milestone of selling properties worth Rs 3911 crore in Q1 FY 25, registering a growth of 37 percent over Q1 FY24. This includes Rs 2971 of sales in plotted developments in Gurugram, Panipat and Noida. The premier developer which has 56 projects across residential, office, retail and service apartment segments will be leveraging its large land bank of 3000 acres in Delhi- NCR to undertake its future expansion plans.