Shapoorji Pallonji Real Estate eyes Rs 500 crore revenue from 180 luxury units in Bengaluru

New Delhi: Shapoorji Pallonji Real Estate on Thursday launched more than 180 luxury homes in Bengaluru with a revenue potential of around Rs 500 crore.

In a statement, the company said it has launched 'Sequoia', the last tower at its project Parkwest 2.0 in Binnypet, Bengaluru.

The project Parkwest 2.0 has a total saleable area of over 18.4 lakh square feet.

The company will develop over 180 luxury apartments in this last tower, having a saleable area of 4.3 lakh square feet and "presenting a revenue potential of nearly Rs 500 crore".

Venkatesh Gopalakrishna, MD & CEO of Shapoorji Pallonji Real Estate said, "Sequoia, the last tower at Parkwest 2.0, is a testament to our meticulous planning and unwavering dedication to craftsmanship." Bengaluru is one of the major real estate markets in India.

As per the data compiled by housing brokerage firm, PropTiger, the sales of residential properties rose 44 per cent last year to 44,002 units from 30,467 units during 2022.

The new supply of housing also went up 14 per cent to 47,965 units in 2023 from 42,215 units in the previous year.

With a development potential of over 142 million square feet, Shapoorji Pallonji Real Estate has a presence in Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.