Shapoorji Pallonji Real Estate (SPRE) plans to unlock the value of its landbank spanning more than 3,000 acres across Maharashtra through plotted development projects, with a cumulative revenue potential exceeding ₹10,000 crore over the next three to four years, The Economic Times reported.
The real estate arm of the Shapoorji Pallonji Group holds land parcels across the Mumbai Metropolitan Region (MMR), Pune and Nagpur.
The company intends to develop these properties in phases, creating an additional revenue stream alongside its residential and commercial real estate businesses.
900-Acre Mumbai-Pune Township To Generate Over ₹6,000 Crore
A major component of SPRE's expansion strategy is a proposed 900-acre plotted township along the Mumbai-Pune corridor, with an estimated gross development value (GDV) exceeding ₹6,000 crore.
Surrounded by hills and water bodies, the township will initially focus on wellness facilities, with sports and adventure amenities planned for later phases.
SPRE has already invested approximately ₹1,500 crore in the project, including land acquisition costs, and secured the entire property.
The first phase will cover 200 acres and is expected to generate around ₹1,800 crore in revenue.
According to the report, the developer has completed the master plan for the township and obtained key approvals for the initial phase.
Development of this phase is expected to be completed within 30 months.
SPRE Expands Plotted Development Portfolio Across Maharashtra
The proposed township follows SPRE's entry into plotted developments through a project covering more than 100 acres on Pune's outskirts.
SPRE plans to launch and monetise multiple projects over the coming three to four years, strengthening its plotted development pipeline while continuing its existing real estate operations.
