Shapoorji Pallonji aims ₹800 cr revenue from new housing project in Pune

Shapoorji Pallonji Real Estate (SPRE) will develop a 5-acre residential project in Pune with an estimated revenue of ₹800 crore as part of its expansion plan.

The company has launched a 5-acre premium housing project 'VANAHA Verdant', comprising about 600 apartments.

"Spread across 5 acres, the upcoming project will offer approximately 10 lakhs square feet of saleable area, with an estimated revenue potential of about ₹800 crore," SPRE said in a statement on Wednesday.

The company did not disclose the project cost.

This upcoming project is part of its flagship 1,000-acre integrated township, VANAHA, near Bavdhan, Pune.

Sriram Mahadevan, CEO of Shapoorji Pallonji Real Estate and MD of Joyville Shapoorji Housing, said, "With VANAHA Verdant, we are not just launching another project but shaping a new way of living in Pune. Its proximity to nature, integrated commercial spaces, and low-density layout reflect what today's homebuyers value most: balance, access, and long-term value."  To date, Shapoorji Pallonji Real Estate (SPRE) has sold over 2,000 apartments worth ₹1,800 crore across mid-segment within this large township.

Post-Covid pandemic, India's top seven housing markets -- Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, Chennai, Hyderabad, Kolkata, and Pune -- have witnessed significant rise in demand and prices, especially for builders having good track record of executing projects on time.

Shapoorji Pallonji Real Estate is one of the leading real estate developers in the country.

It is part of the Shapoorji Pallonji Group, a multi-business conglomerate.

With a development potential of over 130 million sq ft, SPRE has a presence in Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.