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The Bengaluru-based real estate firm plans to invest about Rs 7,000 crore over the next seven years to develop 25 million square feet of residential assets across Bengaluru and enter the plotted development segment, he said.
The company is also looking forward to deploying Rs 300 crore of alternate investment funds across Bengaluru and Chennai by the end of this year.
Local brokers and developers say that demand for villas in Bengaluru has gone up by 30-40 percent in the last two years.
The company will also commence work on the Chalukya Hotel to develop 1.5 lakh square feet of Grade A office space in the city’s central business district for a rental return of about Rs 335 crore.
The company plans to launch at least four new residential projects in FY24, with a development potential of 5 million square feet and an expected gross revenue of over Rs 3,000 crore.