Piramal Realty to pump Rs 35 bn into ongoing MMR projects

26 Dec 2022 CW Team

Piramal Realty will invest Rs 35 billion over the next two years in four ongoing housing projects as it aims to deliver a six million square feet of area to customers, its chief executive officer Gaurav Sawhney said.

Founded in 2012, Piramal Realty is the real estate arm of the Piramal Group. It is one of the leading developers in the Mumbai Metropolitan Region (MMR), with 15 million sq ft of residential and commercial projects under development.

In an interview, Sawhney said the company is developing 13 million sq ft in phases across four residential projects in Mulund, Thane, Mahalaxmi and Byculla in the MMR.

The company is developing around 12,000 apartments across these four projects.

"We have launched around 8-8.5 million sq ft so far in these four projects and the remaining 4-5 million sq ft will be launched over the next two years," he said.

Sawhney said the company is focusing on delivery and has started handing over the first set of 1,000 apartments to its customers totalling about 1 million sq ft.

Sawhney highlighted that the company has established itself in the premium luxury side of the market, with a lot of emphasis on green initiatives, better use of space inside as well as outside the apartments and community living.

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