New Delhi: Realty firm Sattva Group will redevelop six housing and commercial projects in Mumbai Metropolitan Region (MMR) and is expecting a total revenue of around Rs 11,000 crore over the next seven years. In a statement on Tuesday, Bengaluru-based Sattva Group, which recently launched a public issue of a Real Estate Investment Trust (REIT), announced formal entry into the MMR with six residential and commercial redevelopment projects spanning over 8 million sq ft of construction area.
The projects, awarded through competitive evaluations, are located in Parel (Sewri), Prabhadevi, Goregaon East, Vile Parle West, Powai and the Bandra Kurla Complex (BKC) vicinity, it added. With these six projects, Sattva Group said it expects to deliver more than 2,500 rehabilitation homes and over 2,000 newly built residences.
"Construction across the portfolio will begin in 2026 and continue in phases until 2032, with the first project likely to be delivered by 2028. The total gross development value (which means revenue potential) across the projects is estimated at approximately Rs 11,000 crore," Sattva Group said.
Bijay Agarwal, Managing Director of Sattva Group, said, "Mumbai is entering a defining phase of urban renewal, driven by the need to replace ageing structures with safer, well-planned, future-ready housing. Redevelopment requires clarity, discipline and long-term commitment, values central to Sattva's growth over the past three decades." Sattva Group is one of the leading real estate developers in the country. It has delivered 78 million sq ft of area and over 71 million sq ft is under construction across multiple cities.
The Group has listed Knowledge Realty Trust (KRT) as a co-sponsor with long-term partner Blackstone, encompassing 46 million sq ft of Grade A office assets across six cities. Sattva Group is also into co-working, co-living, education, hospitality, data centers, and warehousing segments.
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