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

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

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


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 ThidalForeign investors deploy over $18 billion in real estate in past years

Next Story
Resources

Skyview by Empyrean is Making Benchmarks in the Indian Ropeway Industry

FIL Industries Private Limited, the parent company of Empyrean Skyview Projects that pioneered ropeway mobility solutions in India with Jammu’s Skyview Gondola, is currently developing the Dehradun-Mussoorie ropeway and is on track to complete Phase I by September 2026. The ropeway is set to be India’s longest passenger aerial monocable covering 5.8 km between the foothills of Dehradun in Purkulgam and MDDA taxi stand in the hills of Mussoorie in just under 20 minutes. The firm pioneered green mobility solutions in India with the development of the flagship Skyview Gondola in Jam..

Next Story
Technology

Creativity is for Humans, Productivity is for Robots!

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Infrastructure Urban

Bhartiya Urban Unveils ‘Bhartiya Converge’ GCC Enablement Platform

Bhartiya Urban has launched Bhartiya Converge, its latest business venture designed to become India’s premier platform for enabling Global Capability Centres (GCCs). The initiative offers an integrated ecosystem aimed at helping global clients gain a competitive edge in today’s rapidly evolving business environment. Focused on enhancing turnaround time and operational efficiencies, the company seeks to deliver better business outcomes powered by top-tier talent. Bhartiya Converge presents a customised and integrated suite of microservices that addresses the nuanced and evolving operational..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?