Emami Realty plans to develop new residential projects in Chennai
Real Estate

Emami Realty plans to develop new residential projects in Chennai

Emami Realty, a subsidiary of the Emami Group, is set to launch two new residential projects in Chennai, covering a combined area of approximately 20 lakh sq ft. These developments are part of the Kolkata-based company’s broader plan to introduce 12 projects, spanning 220 lakh sq ft of residential and commercial spaces, across major Indian cities over the next seven years. The total estimated investment for these ventures in West Bengal, Uttar Pradesh, Tamil Nadu, Odisha, and Jharkhand is projected at Rs 100 billion. Nitesh Kumar, Managing Director and CEO of Emami Realty, shared with BusinessLine that the company is already active in Tamil Nadu, having delivered a project in Chennai three years ago and currently managing an ongoing project in Coimbatore. "We will be launching two more residential projects in Chennai. Construction for these will soon commence," Kumar said. One of the Chennai projects, spanning 8.5 lakh sq ft, is scheduled for completion in 2028, while the second, covering about 11 lakh sq ft, is expected to conclude by the end of 2029. Both are upper-mid housing developments. Additionally, the company holds around 100 acres of land in Hyderabad. "We have not yet decided whether to develop projects in Hyderabad or sell the land," Kumar noted. Of the 12 forthcoming projects, five will be launched outside West Bengal, with all developments leveraging Emami Realty's existing land bank. "These projects have a revenue potential of around Rs 150 billion, with a total investment estimate of Rs 100 billion. Since we already own the land, financing will be limited to construction costs, which will be covered by internal accruals and project sales," Kumar added.

Emami Realty, a subsidiary of the Emami Group, is set to launch two new residential projects in Chennai, covering a combined area of approximately 20 lakh sq ft. These developments are part of the Kolkata-based company’s broader plan to introduce 12 projects, spanning 220 lakh sq ft of residential and commercial spaces, across major Indian cities over the next seven years. The total estimated investment for these ventures in West Bengal, Uttar Pradesh, Tamil Nadu, Odisha, and Jharkhand is projected at Rs 100 billion. Nitesh Kumar, Managing Director and CEO of Emami Realty, shared with BusinessLine that the company is already active in Tamil Nadu, having delivered a project in Chennai three years ago and currently managing an ongoing project in Coimbatore. We will be launching two more residential projects in Chennai. Construction for these will soon commence, Kumar said. One of the Chennai projects, spanning 8.5 lakh sq ft, is scheduled for completion in 2028, while the second, covering about 11 lakh sq ft, is expected to conclude by the end of 2029. Both are upper-mid housing developments. Additionally, the company holds around 100 acres of land in Hyderabad. We have not yet decided whether to develop projects in Hyderabad or sell the land, Kumar noted. Of the 12 forthcoming projects, five will be launched outside West Bengal, with all developments leveraging Emami Realty's existing land bank. These projects have a revenue potential of around Rs 150 billion, with a total investment estimate of Rs 100 billion. Since we already own the land, financing will be limited to construction costs, which will be covered by internal accruals and project sales, Kumar added.

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?