Krisumi Corporation to invest Rs 3 bn in Krisumi City project phase 2

25 May 2023 CW Team

Both partners have already contributed the initial capital, and Krisumi Corporation expects to generate revenue of Rs 5 billion from this endeavour. Furthermore, the company has set target revenue of Rs 12 billion for the fiscal year 2023-24. With the delivery of phase 1 scheduled to commence in January 2024, the corporation is also making plans for phase 3.

Recently, the corporation successfully sold 322 luxury suites (apartments) within three days as part of phase 2. These units are priced in the range of Rs 14.7 million to Rs 19.2 million, with an approximate rate of Rs 16,000 per sq ft. Mohit Jain, the Managing Director of Krisumi Corporation, expressed satisfaction with the response from customers, as they received 750 cheques despite offering only 322 apartments.

Construction for the second phase has already commenced, and the corporation aims to complete it within the next four years. Vineet Nanda, the Director of Sales & Marketing at Krisumi Corporation, noted a significant demand for luxury housing units of smaller sizes.

In addition to the residential apartments, Krisumi Corporation is establishing a hospitality vertical to manage the project. They also have plans to develop a separate clubhouse that will serve all phases of Krisumi City.

While Sumitomo Corporation boasts a track record of delivering over 300 projects across Japan, the USA, China, and Indonesia, this venture marks their first major investment in India.

Also Read
Developers log land purchases worth mn in last 17 months
Government Considering Setting Up 8 New Cities Across India

Krisumi Corporation, a joint venture between Sumitomo Corporation, a Japanese conglomerate, and Krishna Group, an Indian auto components firm, is set to invest Rs 3 billion in the development of approximately 400,000 sq ft as part of the second phase of the Krisumi City housing project. This ambitious project, located in Sector 36A, Gurugram, aims to cover a total area of 30.38 acres. A senior executive of the corporation confirmed this investment. Both partners have already contributed the initial capital, and Krisumi Corporation expects to generate revenue of Rs 5 billion from this endeavour. Furthermore, the company has set target revenue of Rs 12 billion for the fiscal year 2023-24. With the delivery of phase 1 scheduled to commence in January 2024, the corporation is also making plans for phase 3. Recently, the corporation successfully sold 322 luxury suites (apartments) within three days as part of phase 2. These units are priced in the range of Rs 14.7 million to Rs 19.2 million, with an approximate rate of Rs 16,000 per sq ft. Mohit Jain, the Managing Director of Krisumi Corporation, expressed satisfaction with the response from customers, as they received 750 cheques despite offering only 322 apartments. Construction for the second phase has already commenced, and the corporation aims to complete it within the next four years. Vineet Nanda, the Director of Sales & Marketing at Krisumi Corporation, noted a significant demand for luxury housing units of smaller sizes. In addition to the residential apartments, Krisumi Corporation is establishing a hospitality vertical to manage the project. They also have plans to develop a separate clubhouse that will serve all phases of Krisumi City. While Sumitomo Corporation boasts a track record of delivering over 300 projects across Japan, the USA, China, and Indonesia, this venture marks their first major investment in India. Also Read Developers log land purchases worth mn in last 17 monthsGovernment Considering Setting Up 8 New Cities Across India

Infrastructure Urban

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Infrastructure Energy

05 Nov 2025

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Infrastructure Urban

05 Nov 2025

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..