Bengaluru-based real estate developer Shriram Properties Limited (SPL) has entered into a Joint Development Agreement (JDA) to develop a 0.7 million sq ft mixed-use project near Pune, the company announced on 30 October 2025. This marks SPL’s second project in Pune, following its successful debut in Undri earlier this year.

In May 2025, the company launched its first project in Pune, which received a robust market response, achieving over 55 per cent sales within six months of launch.

SPL said in a statement that the new Hinjewadi development will be a high-rise, mixed-use project, redefining urban living and lifestyle experiences. It will include 6.5 lakh sq ft (0.65 million sq ft) of premium residential apartments, along with retail and commercial spaces, bringing the total saleable area to over 0.7 million sq ft.

The project, located in a high-demand residential corridor, will feature a sky clubhouse offering panoramic city views, leisure amenities, and community spaces.

SPL stated that the new project reinforces its commitment to geographical diversification and capital-efficient, asset-light growth through development partnerships.

“Pune continues to show strong demand fundamentals driven by its IT and industrial ecosystem,” said Akshay Murali, Vice President – Business Development, Shriram Properties. “The signing of our second project marks a key milestone in our expansion strategy and reflects our confidence in the city’s long-term potential. This addition aligns with our broader strategy to scale up across major residential markets through partnership-led growth while maintaining our focus on value-driven, high-quality homes.”

According to the company, Hinjewadi, known as Pune’s largest IT and business district, has evolved into one of the city’s most sought-after residential destinations. The area continues to attract both end-users and investors, supported by stable rental yields and proximity to Hinjewadi IT Park, the Mumbai–Pune Expressway, and major educational and healthcare institutions.

“With this project, Shriram Properties is further strengthening its western India portfolio, following the positive response to its maiden Pune venture,” the company said. “We remain focused on expanding our presence across high-growth micro-markets in Pune while sustaining leadership in South India’s mid-market housing segment.”

The total investment in the Hinjewadi mixed-use development is estimated at around Rs 7 billion, highlighting SPL’s growing presence in western India’s premium real estate market.