New Delhi, March 20 Paranjape Schemes Construction Ltd, a real estate firm, will invest Rs 700 crore to develop four projects in Pune as part of its expansion plan.
In a statement on Friday, the company announced the launch of a series of new residential projects across Pune West as part of its offerings for the upcoming festive season.
"Collectively, these upcoming launches represent a development potential of over 1.75 million sq ft across nearly 1400 residential units, with an estimated revenue potential of approximately Rs 1,175 crore," Paranjape Schemes said.
Amit Paranjape, Director-Business Development, Paranjape Schemes Construction Pvt Ltd, stated that the company will invest around Rs 700 crore to build these 1400 units.
He added that the festive season is traditionally an important time for homebuyers in India, as it represents new beginnings and long-term investments for families.
"In addition to our new launches, we are also actively developing three large integrated townships that will shape the next phase of urban living," Paranjape said.
According to real estate consultant PropTiger, housing sales fell 27 per cent in Pune last year, from 81,281 units in the 2024 calendar year to 59,223 units.
Paranjape Schemes (Construction) Ltd, established in 1989 in Pune, is one of India's leading real estate developers. It has delivered over 200 residential and commercial projects across nine cities including Pune, Mumbai, Bengaluru, and Vadodara, spanning over 20 million sq ft area.
