Sumadhura Group to invest Rs 17,000 cr on realty projects, land acquisition
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The Sumadhura Group is gearing up for a massive investment of Rs 17,000 crore, set to complete by March 2030. This extensive funding will drive a variety of housing and commercial projects while facilitating key land acquisitions. Their ambitious plan includes a development pipeline of 45 million square feet across three major urban centers, primarily focusing on residential units.
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Loading...×Bengaluru-based realty firm Sumadhura Group will invest Rs 17,000 crore by March 2030 to develop housing and commercial projects as well as in land acquisition, a top company official said.The company has delivered 56 projects comprising 17 million square feet in the last three decades.
"We have around 11 million sq ft of ongoing housing and commercial projects. The company has a strong launch pipeline of 45 million sq ft across three major cities -- Bengaluru, Hyderabad and Chennai -- by the end of 2029-30 fiscal," Sumadhura Group CMD Madhusudhan G said.
Out of the 45 million sq ft planned launches, he said, 35 million sq ft area would be residential, 4 million sq ft office and 6 million sq ft warehousing spaces.
"Our total investment will be Rs 17,000 crore over the four financial years -- 20026-27 to 2029-30 -- on the ongoing and future projects as well as land acquisition," he said, adding that the company already owns 85 per cent of the total land parcels required to launch 45 million sq ft.
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Madhusudhan G said the investments will be largely funded through internal accruals and advances from customers. The company would also raise around Rs 2,000 crore in debt.
He said the company would also grow its rental portfolio by developing office complexes and warehousing parks.
"We have an annual rental income of Rs 250 crore currently. We want to grow it to more than Rs 1,100 crore," said Madhusudhan.
Asked about demand for housing, office and warehousing properties in the three cities where the company has a presence, the company's CMD said demand for homes remains strong.
The office space demand is driven largely by foreign companies looking to establish Global Capability Centres (GCCs), he said.
Third-party logistics, e-commerce and light manufacturing players are major drivers of industrial and warehousing space, the CMD noted.
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