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

25 Oct 2025

Tata Communications Revives Nagan Thangal Lake in Tamil Nadu

Tata Communications, in partnership with Pitchandikulam Forest, has rejuvenated Nagan Thangal Lake in Upparapalayam village, Tamil Nadu, transforming the 15.01-acre site into a thriving ecological and community hub. Launched in 2022 under *Project Nanneer* (“good water” in Tamil), the initiative has improved water security, biodiversity, and community engagement, as per a recent study by the Watershed Organisation Trust Centre for Resilience Studies (W-CReS). Once a vital but neglected water source for 2,800 residents, the lake’s capacity had dropped by 75 per cent. Through land shaping..

PTC Industries Wins GTRE Order for Single Crystal Turbine Blades

PTC Industries Limited, a leading manufacturer of high-performance materials and precision-engineered components for aerospace and defence, has received a Purchase Order from the Gas Turbine Research Establishment (GTRE), Defence Research and Development Organisation (DRDO), for Post-Cast Operations to produce Single Crystal ‘Ready-to-Fit’ Turbine Blades. The announcement was made in the presence of Raksha Mantri Rajnath Singh and Uttar Pradesh Chief Minister Yogi Adityanath at the inauguration of PTC’s Titanium & Superalloys Materials Plant in Lucknow. This marks the first time an Indi..

NCBA unveils East Africa’s first cloud-based corporate platform

Nairobi, 23 October 2025: NCBA Bank has launched Connect Plus, an advanced transaction banking platform powered by Intellect’s eMACH.ai Digital Transaction Banking solution, becoming the first bank in East Africa to adopt a cloud-based corporate banking system. The upgraded platform enhances transaction speed, payment flexibility, cash liquidity management, and integration with other financial platforms, offering a secure and intuitive experience for corporate clients. James Gossip, Managing Director, NCBA Kenya, said the launch aligns with Kenya’s Vision 2030 Digital Economy initiative,..