Sumadhura Group Announces Major Bengaluru Expansion with Rs 6,000 Crore Investment
Real estate developer Sumadhura Group has revealed plans to invest approximately Rs 6,000 crore in developing six new housing projects in Bengaluru. This strategic move aims to capitalize on the city's robust housing demand and expand the company's business footprint.
Launch of Six Premium Projects This Quarter
Based in Bengaluru, Sumadhura Group will launch all six housing projects during the current quarter. The projects will feature a mix of apartments and residential plots, totaling more than 4,000 units. According to Madhusudhan G, Chairman and Managing Director of Sumadhura Group, housing demand in Bengaluru remains strong, driving this ambitious expansion.
"We are launching six premium projects, comprising more than 4,000 units that include apartments and residential plots," Madhusudhan G stated in an interview with PTI. He confirmed that the investment for these projects would range between Rs 5,500 crore and Rs 6,000 crore.
Project Details and Revenue Expectations
The upcoming projects will be situated in east and north Bengaluru, covering a total land area of 90 acres. They will offer a saleable area exceeding 8 million square feet. Sumadhura Group anticipates generating total revenue of about Rs 10,000 crore from these six developments.
Madhusudhan G expressed confidence in the market, noting the consistent demand for housing in the region. The company's decision to invest heavily aligns with its growth strategy and the positive outlook for Bengaluru's real estate sector.
Bengaluru's Housing Market Context
Recent data from real estate analytics firm PropEquity indicates that housing sales in Bengaluru remained steady at nearly 16,000 units during the October-December period of the previous calendar year. This stability supports Sumadhura Group's expansion plans.
Over the past three decades, Sumadhura Group has delivered 56 projects, encompassing over 17 million square feet. The company operates across various real estate segments, including housing, office spaces, warehousing, and co-living facilities.
This new investment underscores Sumadhura Group's commitment to enhancing its portfolio and meeting the growing demand for premium residential properties in Bengaluru.
