Shapoorji Pallonji Real Estate eyes Rs 1,500 crore revenue from two housing projects in Pune

It has already launched multiple projects across major cities.

Shapoorji Pallonji Real Estate on Wednesday said it has launched two housing projects in its 200 acre-township in Pune and is expecting a revenue of around Rs 1,500 crore from them. In a statement, the company said it is developing a 200 acre-urban development project ’SP Kingstown’ in Pune’s Hadapsar Annexe.

It will develop housing, commercial, educational, healthcare, and retail spaces in this large township. Shapoorji Pallonji Real Estate has come up with two housing projects 'Wildernest' and 'Joyville Celestia', with a development potential of over 1.7 million square feet. "With the launch of 'Wildernest' and 'Joyville Celestia', we aim to provide residents with a unique and enchanting living experience that provides them with various options, from aspirational to luxury. SP Kingstown represents our enduring dedication to Pune’s real estate landscape, and we anticipate a remarkable revenue potential close to Rs 1,500 crore from these endeavours," Venkatesh Gopalakrishnan, MD & CEO of Shapoorji Pallonji Real Estate, said.

Sriram Mahadevan, Managing Director of Joyville Shapoorji Housing, said this is the second aspirational project in this township. With a development potential of over 142 million square feet, Shapoorji Pallonji Real Estate has made inroads into most Indian cities — Mumbai, Pune, Bangalore, Gurugram, and Kolkata, the statement said. Joyville is a $ 200 million platform by Shapoorji Pallonji, ADB, IFC and Actis to develop aspirational housing projects in India. It has already launched multiple projects across major cities.