+
Maia Estates Plans Rs 30 Bn Build Across 4 m Sq Ft This Year
Real Estate

Maia Estates Plans Rs 30 Bn Build Across 4 m Sq Ft This Year

Bengaluru-based developer Maia Estates will invest about Rs 30 billion this financial year to launch more than four million square feet of new housing and commercial space, a move that should lift its city footprint towards 2.5 million square feet by March. Founder and chief executive Kalpana Ruia said the pipeline spans prices from roughly Rs 20 million to Rs 120 million, with super-prime residences costing upwards of Rs 15,000 per square foot.

The firm recently handed over its flagship scheme, 27 Summit, in just three-and-a-half years; the super-luxury flats there fetch between Rs 210 million and Rs 270 million at rates starting around Rs 47,000 per square foot. Maia now has six to eight residential projects in stages from planning to construction and expects to release a further 1.5–2 million square feet during FY 2026. About 50–60 per cent of its stock sits in North Bengaluru, where unit prices vary from Rs 25 million to Rs 120 million, while city-centre plots on Richmond Road and Basavanagudi are reserved for future ultra-luxury towers. Eastern Bengaluru, by contrast, remains a measured play for the brand.

Beyond the Karnataka capital, Maia entered Chennai late last year with an eight-villa enclave priced at roughly Rs 200 million apiece; only a handful of homes remain unsold and more launches are planned. The expansion requires around Rs 30 billion in capital, to be funded one-third each through equity, construction finance and customer advances. The group has already raised more than Rs 10 billion from CapitaLand for its commercial foray and secured a further Rs 3 billion for residential schemes via internal accruals and partners.

Maia’s commercial strategy began in February with a marquee deal alongside CapitaLand and now covers 1.5 million square feet under development. The goal is to triple that office footprint within four years, concentrating on Bengaluru’s Central Business District, Hebbal and the Outer Ring Road as suitable plots become available.

Bengaluru-based developer Maia Estates will invest about Rs 30 billion this financial year to launch more than four million square feet of new housing and commercial space, a move that should lift its city footprint towards 2.5 million square feet by March. Founder and chief executive Kalpana Ruia said the pipeline spans prices from roughly Rs 20 million to Rs 120 million, with super-prime residences costing upwards of Rs 15,000 per square foot. The firm recently handed over its flagship scheme, 27 Summit, in just three-and-a-half years; the super-luxury flats there fetch between Rs 210 million and Rs 270 million at rates starting around Rs 47,000 per square foot. Maia now has six to eight residential projects in stages from planning to construction and expects to release a further 1.5–2 million square feet during FY 2026. About 50–60 per cent of its stock sits in North Bengaluru, where unit prices vary from Rs 25 million to Rs 120 million, while city-centre plots on Richmond Road and Basavanagudi are reserved for future ultra-luxury towers. Eastern Bengaluru, by contrast, remains a measured play for the brand. Beyond the Karnataka capital, Maia entered Chennai late last year with an eight-villa enclave priced at roughly Rs 200 million apiece; only a handful of homes remain unsold and more launches are planned. The expansion requires around Rs 30 billion in capital, to be funded one-third each through equity, construction finance and customer advances. The group has already raised more than Rs 10 billion from CapitaLand for its commercial foray and secured a further Rs 3 billion for residential schemes via internal accruals and partners. Maia’s commercial strategy began in February with a marquee deal alongside CapitaLand and now covers 1.5 million square feet under development. The goal is to triple that office footprint within four years, concentrating on Bengaluru’s Central Business District, Hebbal and the Outer Ring Road as suitable plots become available.

Next Story
Infrastructure Urban

GRM Overseas Reports Q1 FY26 Results; Strengthens Global & Domestic Presence

GRM Overseas has announced its unaudited financial results for the quarter ended 30 June 2025. The company reported a positive performance in terms of margins and profitability, despite topline pressures from global geopolitical challenges.Atul Garg, Managing Director, said:"We have maintained healthy margins and profitability while navigating short-term headwinds. Our focus remains on expanding our product portfolio, enhancing brand visibility, and deepening our distribution network. Internationally, we continue to hold a strong position in the Basmati rice export market, particularly in the ..

Next Story
Infrastructure Urban

Zuari Industries Posts Q1 FY26 Revenue Growth; PAT Turns Positive

Zuari Industries has announced its audited financial results for the quarter ended 30 June 2025.On a standalone basis, the company reported Revenue from Operations of Rs 2.10 billion and Operating EBITDA of Rs 220.4 million. Standalone Profit Before Tax (PBT), before exceptional items, stood at Rs 90 million.On a consolidated basis, Revenue rose 10.5 per cent year-on-year to Rs 2.67 billion, while Profit After Tax (PAT) stood at Rs 50 million compared to a loss of Rs 330.6 million in Q1 FY25.Segment HighlightsSugar, Power & Ethanol: Operations were impacted by an early mill closure due to ..

Next Story
Infrastructure Urban

Karnataka Bank Reports Q1 FY26 Net Profit of Rs 2.92 Bn

Karnataka Bank has announced a net profit of Rs 2.92 billion for the first quarter of FY26, compared to Rs 4 billion in Q1 FY25. The results were approved at the Board of Directors meeting held on 13 August 2025 at the Bank’s headquarters in Mangaluru.Asset Quality & Capital AdequacyGross NPA: 3.46 per cent, improved from 3.54 per cent in Q1 FY25.Net NPA: 1.44 per cent, down from 1.66 per cent in Q1 FY25.Capital Adequacy Ratio (CAR): 20.46 per cent, up from 17.64 per cent in Q1 FY25.Announcing the results, Raghavendra S Bhat, Managing Director & CEO, said:"The Bank has registered a m..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?