SPRE Targets Rs 8 Billion from Pune VANAHA Verdant Project

18 Jul 2025 CW Team

Shapoorji Pallonji Real Estate (SPRE) is targeting over Rs 8 billion in revenue from its upcoming premium housing development, VANAHA Verdant, located in Pune. The project is part of SPRE’s 1,000-acre integrated township near Bavdhan and will be developed over five acres.

The VANAHA Verdant project will comprise 600 residential units with around 1 million sq. ft. of saleable area. While SPRE has not disclosed the total project cost, the development is expected to significantly bolster the company’s portfolio in Pune’s upscale housing segment.

According to Sriram Mahadevan, CEO of SPRE and Managing Director of Joyville Shapoorji Housing, the project reflects homebuyers' desire for balance, accessibility, and long-term value. It incorporates integrated commercial zones, proximity to nature, and a low-density layout.

SPRE, part of the Shapoorji Pallonji Group, has delivered over 13 million sq. ft. of residential and 6 million sq. ft. of commercial developments across key cities including Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.

Other prominent residential ventures include SP Residency in Pune and Parkwest in Bengaluru, with the latter receiving accolades for innovative marketing. SPRE’s Joyville brand, launched in 2016, continues to address India’s growing demand for affordable urban housing.

Recent Anarock reports highlighted Mumbai’s market dominance in Q2 2025, with 28,200 residential launches, representing 29 per cent of supply across India’s top seven metro cities. Mumbai also led in land acquisitions in H1 2025 with 24 deals covering 433 acres, reinforcing the city’s pivotal role in the country’s real estate landscape.

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