Alliance Group, a real estate developer, plans to launch projects in Bengaluru, Chennai, and Hyderabad in the current fiscal year, totalling around 25 million sq ft and costing Rs 8,600 crore.
The company reported sales of Rs 2,290 crore for 2021-22, with 3,686 homes sold, with the residential segment accounting for most of the sales.
“2021-22 was a remarkable year in our journey. In spite of the Covid-19 pandemic, we were able to cross many major milestones in the industry,” said Manoj Namburu, chairman of Alliance Group and Urbanrise.
Apart from extending its commercial reach, the company is in talks with institutional funds for a warehouse platform space.
“Financial discipline is our organisation’s DNA and this is the strength we use to leverage large-scale investments in real estate across South India. It is this financial discipline that draws and attracts world’s best financial institutions to invest in our organisation,” said Namburu.
Kotak Realty Fund has invested around Rs 800 crore in the developer’s five projects in Chennai and Hyderabad.
The company currently has 20,000 homes under construction and expects to build over 50,000 units over the next three years.