Real estate group Alliance sells 3,686 homes worth Rs 2,290 cr in FY22

The company has lined up new launches of over 25 mn sq ft of residential projects for FY23

Real estate major Alliance Group and Urbanrise announced on Monday that it has clocked Rs 2,290 crore sales during the FY 2021-22. The company clocked sales of 3,686 homes during the year.

The company has lined up a series of new launches of over 25 million square feet of residential projects for the financial year 2022-23. The Alliance Group plans to launch 10 million sq ft of projects with an investment of Rs 3,575 crore in Bengaluru, 7.5 million sq ft with an investment of Rs 2,350 crore in Chennai and 7.5 million sq ft with an investment of Rs 2,690 crore in Hyderabad in FY23.  

“We are extremely happy in closing this financial year again on a positive note. FY 2021-22 has been a remarkable year in our journey. In spite of the Covid pandemic we have been able to cross many major milestones in the industry,” said Manoj Namburu, Chairman and MD of Alliance Group and Urbanrise.

“Financial discipline is our organization’s DNA and this is the strength we use to leverage largescale investments into real estate across South India and it is this financial discipline that draws and attracts worlds’ best financial institutions to invest in our organization including the worlds’ largest Sovereign fund ADIA, Kotak Realty fund and many more marquee investment firms,” he said.

Vice Chairman Suneel Bommireddy said offering best in class projects, delivering projects on time, maintaining impeccable financial discipline, and building homes that caters to the needs of buyers has been its core principle and what differentiates it from other developers.