Alliance Group, Urbanrise to invest Rs 216 bn in India’s Southern part

24 Apr 2023 CW Team

Alliance Group, a real estate company with offices in Chennai, and its subsidiary Urbanrise intend to spend Rs 216 billion over the following five years to build 36 million square feet of residential projects throughout the Southern market.

The proposed projects will increase their portfolio by more than twice as much and will be built in Bengaluru, Chennai, and Hyderabad. The real estate company will build residential spaces totalling 10 million square feet in Bengaluru, 16 million square feet in Chennai, and 10 million square feet in Hyderabad in order to expand its presence.

Manoj Namburu, CMD of Alliance Group and Urbanrise said that FY 2022-23 has been a very positive year for the organisation, where we have done record sales of 4,199 homes. The firm will raise capital from existing partners and internal accruals for future projects.

Urbanrise has been acquiring large tracts of land in premium locations across Bengaluru, Chennai, and Hyderabad markets to develop residential projects across these geographies. In the last year, it has acquired over 290 acres of land across Southern markets to develop residential projects.

In a recent deal, the firm acquired 9.24 acres of residential land from Mahindra Lifespaces Developers in Chennai.

Namburu also added, all the projects will come up on the land acquired by the company and this year alone we will build 6 million sq ft.

Urbanrise-Alliance raised money from the Kotak-ADIA platform and Motilal Oswal to create projects in Bengaluru and Chennai. In FY 2022–23, the company recorded sales of Rs 25.68 billion. In the most recent fiscal year, the company sold 4,199 homes with a combined 4.23 million square feet of saleable space, and it has 54 million square feet under construction.

Also Read
TN government intends to build 1,186 houses in Kannappar Thidal
Foreign investors deploy over $18 billion in real estate in past years

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..