S Pallonji's plans 35-mn sq.ft realty projects in NCR

The Shapoorji Pallonji's real estate arm in a recent move has planned to launch nearly 35 million sq.ft of projects across its existing markets this fiscal, said official sources, claiming that it plans to launch three projects in Delhi-NCR region this fiscal, which will mark its foray into the market, Group CEO Venkatesh Gopalakrishnan said, elaborating nearly 90 million sq.ft of development in the pipeline, it is launching 35 million sq.ft this fiscal and an equal number in the next year and the rest in the third year. The projects would be developed across its product portfolio and in cities like Mumbai, Delhi- NCR, Bengaluru, Kolkata, Hyderabad, and Pune. As a matter of fact, the company has been looking at the NCR market for quite some time, but is able to buy land only in the last one year when prices start softening. The company is developing a mid-income project under the Joyville brand, which will come up on nearly 1.2 million sq.ft in the northern Peripheral Road in Gurgaon. On the same road it is also planning to launch another project in the range of ₹90 lakh and above and also owned land in Noida where it will be launching a project in the next couple of months.