Shapoorji Pallonji sells over 600 flats worth Rs 400 cr in Pune

22 Feb 2021 Editorial Team

Shapoorji Pallonji Group's real estate arm Shapoorji Pallonji Real Estate sold over 600 units worth around Rs 400 crore in its new housing project in Pune on the back of recovering demand.

The realty firm said it has sold over 600 units in its newly launched housing project in Pune due to accelerated demand.

Last month, Shapoorji Pallonji announced an investment of around Rs 4,000 crore to develop a 148 acre mixed use project near Bavdhan, in proximity to the Katraj-Dehu Road Bypass of the Bengaluru-Mumbai highway.

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Over 600 apartments with various unit configurations were launched in the first phase, with prices ranging between Rs 39 lakh and Rs 89 lakh.

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This premium mixed use development will be executed in phases and will have more than 6,000 apartments on completion.

Shapoorji Pallonji Real Estate has a development pipeline of over 80 million sq ft and plans to double its top line in the next two to three years. The real estate arm is planning to launch new projects and new phases in its existing projects in Kolkata, Mumbai, Pune, Gurugram, and Bangalore.

The group also has a Rs 1,240 crore platform, ”Joyville” in partnership with IFC, ADB, and Actis. The platform has so far launched six housing projects in four major cities and is now looking for new land parcels for future development.

Image: The Shapoorji Pallonji group has recently sought a two-year debt moratorium from its lenders citing a slowdown in its real estate and construction businesses.

Also read: Shapoorji Pallonji lowest bidder in Central Vista segment

Also read: Bombay HC clears way for Shapoorji Pallonji project

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