Shapoorji Pallonji Real Estate Plans ₹10,000 Crore Revenue From 3,000-Acre Maharashtra Landbank

Shapoorji Pallonji Real Estate (SPRE) aims to unlock the value of its sprawling 3,000-acre landbank in Maharashtra by developing a series of revenue-generating projects, with a projected cumulative revenue of over ₹10,000 crore in the next three to four years, according to The Economic Times. The real estate subsidiary of the Shapoorji Pallonji Group owns land parcels across key cities like Mumbai, Pune, and Nagpur.

The company plans to develop these properties in phases, tapping into an additional revenue source apart from its residential and commercial real estate ventures. Among SPRE's strategic expansions is a 900-acre township slated along the Mumbai-Pune corridor, which is expected to generate a gross development value (GDV) surpassing ₹6,000 crore.

Nestled amidst hills and water bodies, the township will initially concentrate on wellness facilities, with sports and adventure amenities slated for later stages. SPRE has already committed approximately ₹1,500 crore towards the project, encompassing land acquisition expenses, and has secured full ownership of the land. The inaugural phase, covering 200 acres, is projected to generate around ₹1,800 crore in revenue.

The developer has already finalized the master plan for the township and obtained necessary approvals for the initial phase, with development anticipated to be completed within 30 months. SPRE's move into plotted developments gained momentum with the launch of a project spanning more than 100 acres on the outskirts of Pune. The conglomerate intends to launch and monetize multiple projects over the subsequent three to four years, bolstering its portfolio while concurrently pursuing its existing real estate activities.