The Top 50 Real State & Infra Company- RANK 16, Piramal Realty, Anand Piramal, Founder
Piramal Realty has launched its second tower, Arav, at its 7-acre signature development, Piramal Aranya. Situated in the heart of Byculla, Piramal Aranya defines premium living that encapsulates the plush and culturally poised neighborhood. Starting at Rs 2.75 crore, the newly launched Arav offers more than 300 units that comprise luxurious 2 & 3-bed residencies.
Besides this, the developer has purchased a 3.2 acre land parcel for Rs 153 crore from Nirmal Lifestyle.
The Group is expecting Rs 2,200 crore sales revenue from the second tower of its luxury housing project in south Mumbai. The company had tied up with Omkar Realtors for housing project ‘Piramal Mahalaxmi’ that has over 2 million sq-ft of development potential. The total investment is estimated at Rs 2,600 crore to develop the entire project, which will have three towers.
Piramal Realty has over 15 million sq-ft of land under development. Goldman Sachs and Warburg Pincus have invested about $434 million at the entity-level.
The Group is expecting Rs 2,200 crore sales revenue from the second tower of its luxury housing project in south Mumbai.