Shapoorji Pallonji Group Consolidates Real Estate Assets Under New Holding Company
The Shapoorji Pallonji Group has formed a new holding company, Shapoorji Pallonji Real Estate (SPRE), to consolidate its real estate holdings spread across key cities in India.
Real EstateIndiaConsolidationMonetisationDevelopmentReal Estate MumbaiAug 20, 2024
The value of the land alone is estimated to be around USD six billion (Rs 50,000 crore).
SPRE’s assets are primarily concentrated in five major cities: Mumbai, Pune, Bengaluru, Gurugram and Kolkata. It also holds large land parcels in Mysore and Nagpur. The assets include both urban infill areas, and tracts of land between Mumbai and Pune.
The holding company catering to affordable and luxury housing, encompasses the group’s entire real estate portfolio, covering 45 land parcels and projects. These have a total development potential of around 140 million sq. ft., with projects of 22 million sq. ft. currently under development, boasting a total revenue potential of up to Rs 2,00,000 crore after development.
The consolidation strengthens the company’s ability to execute large projects. Further, SPRE is positioning itself for sustained growth in the real estate sector, with plans to expand its middle-income housing arm, Joyville Shapoorji, by adding more projects, aiming for five new each year. This subsidiary, with investors like the World Bank member IFC, Actis, and the Asian Development Bank, is expected to play a crucial role in SPRE’s growth strategy.
: The Shapoorji Pallonji Group is a Indian business conglomerate with interests in construction, real estate, and other sectors. The group has a long history of delivering large-scale projects in India and abroad.
: Shapoorji Pallonji Real Estate (SPRE) is a holding company formed by the Shapoorji Pallonji Group to consolidate its real estate holdings. SPRE is focused on developing residential and commercial projects across key cities in India.
Keywords: Shapoorji Pallonji Group, Real Estate, India, Consolidation, Monetisation, Development, Growth Strategy
FAQs:
Q: What is the purpose of forming Shapoorji Pallonji Real Estate (SPRE)?
A: The purpose of forming SPRE is to consolidate the Shapoorji Pallonji Group's real estate holdings and pave the way for monetisation of its portfolio.
Q: What is the estimated value of the land held by SPRE?
A: The estimated value of the land held by SPRE is around USD six billion (Rs 50,000 crore).
Q: What are the key cities where SPRE's assets are concentrated?
A: SPRE's assets are primarily concentrated in five major cities: Mumbai, Pune, Bengaluru, Gurugram and Kolkata.
Q: What is the development potential of SPRE's land parcels and projects?
A: The development potential of SPRE's land parcels and projects is around 140 million sq. ft., with projects of 22 million sq. ft. currently under development.
Q: What is the growth strategy of SPRE?
A: SPRE is positioning itself for sustained growth in the real estate sector, with plans to expand its middle-income housing arm, Joyville Shapoorji, by adding more projects, aiming for five new each year.
Frequently Asked Questions
What is the purpose of forming Shapoorji Pallonji Real Estate (SPRE)?
The purpose of forming SPRE is to consolidate the Shapoorji Pallonji Group's real estate holdings and pave the way for monetisation of its portfolio.
What is the estimated value of the land held by SPRE?
The estimated value of the land held by SPRE is around USD six billion (Rs 50,000 crore).
What are the key cities where SPRE's assets are concentrated?
SPRE's assets are primarily concentrated in five major cities: Mumbai, Pune, Bengaluru, Gurugram and Kolkata.
What is the development potential of SPRE's land parcels and projects?
The development potential of SPRE's land parcels and projects is around 140 million sq. ft., with projects of 22 million sq. ft. currently under development.
What is the growth strategy of SPRE?
SPRE is positioning itself for sustained growth in the real estate sector, with plans to expand its middle-income housing arm, Joyville Shapoorji, by adding more projects, aiming for five new each year.
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