This company will invest in housing for the middle-income category

21 Dec 2022 CW Team

Tell us more about the brand SP Real Estate.
For the past 10 years, we have actually changed gears on the real-estate franchise. Today, we sell apartments worth about `35,000-40,000 million every year. We have a huge pipeline of about 120 million sq ft. So, what we are doing right now is just a fraction of what we will do in the next 20 years. We are a fully backwards-integrated developer with a presence across the value chain of real estate. Under the Shapoorji Pallonji brand, we plan to monetise on the land bank we have procured in the next 15-20 years.

What led to the inception of Joyville Shapoorji?
In 2016, while we were still developing the Sukhobrishti project under the segment of affordable homes in Kolkata, we had undertaken a JV company called Joyville Shapoorji to build homes for the middle class. To cater to this new market, we formed a JV platform with ADB, IFC and Actis and raised $200 million in equity. The funds have been invested successfully in eight projects across India, in Pune, Mumbai, Gurugram and Kolkata.

To read the full interaction, CLICK HERE

One of the youngest businesses within the Shapoorji and Pallonji Group, Shapoorji Pallonji Real Estate (SP Real Estate) has been in existence for 25 years. The company started off in the early 1990s under the umbrella of SP Info City, which leased out large-scale commercial projects to IT and ITES companies in Chennai, Pune, Manesar and Mohali. Between 2010 and 2017, it successfully exited all these parks by selling them to various pension funds like CPPIB and Allianz. It also ventured into redevelopment within the city of Mumbai, after which it started acquiring land parcels across India 鈥� in Bengaluru, Kolkata and Pune. The real traction for the company started in the late 2000s, when it started developing on these land parcels. Going forward, SP Real Estate鈥檚 growth trajectory will be defined by projects in the ticket size of `4-10 million across key Indian cities, believes Venkatesh Gopalakrishnan, CEO, SP Real Estate, as he shares more about the company鈥檚 plans and prospects. Tell us more about the brand SP Real Estate. For the past 10 years, we have actually changed gears on the real-estate franchise. Today, we sell apartments worth about `35,000-40,000 million every year. We have a huge pipeline of about 120 million sq ft. So, what we are doing right now is just a fraction of what we will do in the next 20 years. We are a fully backwards-integrated developer with a presence across the value chain of real estate. Under the Shapoorji Pallonji brand, we plan to monetise on the land bank we have procured in the next 15-20 years. What led to the inception of Joyville Shapoorji? In 2016, while we were still developing the Sukhobrishti project under the segment of affordable homes in Kolkata, we had undertaken a JV company called Joyville Shapoorji to build homes for the middle class. To cater to this new market, we formed a JV platform with ADB, IFC and Actis and raised $200 million in equity. The funds have been invested successfully in eight projects across India, in Pune, Mumbai, Gurugram and Kolkata. To read the full interaction, CLICK HERE

Infrastructure Urban

16 May 2025

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Infrastructure Urban

16 May 2025

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Infrastructure Urban

16 May 2025

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, 鈥淲e are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..