Piramal Realty mulls Rs 15 bn housing projects

Piramal Group's newest venture, Piramal Realty, will kick off with five residential projects in Mumbai at an estimated investment of about Rs 1,500 crore. The company will develop about 30 million sq ft through land acquisitions funded from its own sources, without any borrowing. The company is looking at various segments for development, which include premium residences, premium office spaces, second homes, and low-cost housing as well as the redevelopment space in Mumbai.