SPRE expect over Rs 1,000 cr revenue from luxury project in Mumbai

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Shapoorji Pallonji Real Estate (SPRE) on Wednesday launched a new ultra luxury project in Mumbai with an estimated revenue potential of more than Rs 1,000 crore.

The company would develop nearly 60 residential units in 'The Odyssey' project, located off Marine Drive, with a starting price of Rs 15 crore per flat.

"The project comprises close to 60 apartments for sale, with revenues exceeding Rs 1,000 crore," SPRE said in a statement.

The project has been designed by architect Hafeez Contractor.

Venkatesh Gopalakrishnan, MD & CEO, SPRE, said, "At Shapoorji Pallonji Real Estate, we believe in creating more than just structures; we craft environments that redefine luxury and comfort. The Odyssey is a manifestation of this philosophy."

With an expected revenue surpassing Rs 1,000 crore, he said, the project signifies a lucrative venture that sets new standards for ultra luxury projects in South Mumbai.

"As we make our historic comeback to South Mumbai, we are confident that this uber luxury project will redefine opulent living," Gopalakrishnan added.

Earlier this month, SPRE launched 276 luxury homes in Pune with an estimated sales value of around Rs 600 crore.

The company had launch the second phase of its 'Golfland' project, which is part of a large township 'VANAHA' near Bavdhan, West Pune.

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

With a development potential of over 142 million square feet, SPRE has a presence in many cities, including Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.