New Delhi, Jan 18 (PTI) Realty firm Sumadhura Group will invest around ₹6,000 crore to develop six new housing projects in Bengaluru, as it seeks to expand business amid strong demand, a top company official said.
Bengaluru-based Sumadhura Group will launch six housing projects during this quarter.
“Housing demand in Bengaluru continues to be strong. We are launching six premium projects, comprising more than 4,000 units that include apartments and residential plots,” Sumadhura Group Chairman and Managing Director Madhusudhan G told PTI.
Asked about the investments, he said it would be around ₹5,500-6000 crore.
These upcoming projects, located in the east and north Bengaluru, would have a total saleable area of over 8 million square feet.
“We are expecting a total revenue of about ₹10,000 crore from these six projects,” Madhusudhan G said.
These six upcoming projects will cover a total of 90 acres of land.
According to real estate data analytics firm PropEquity, housing sales in Bengaluru remained flat at nearly 16,000 units during the October-December period of the last calendar year.
In the last three decades, Sumadhura Group has delivered 56 projects, comprising over 17 million square feet.
It has a presence in various real estate verticals, including housing, office, warehousing and co-living.