Strategic Investments: KREEVA, ASK Property Fund, and Shapoorji Pallonji Converge in Gurugram Real Estate Venture

KREEVA, ASK Property Fund, and Shapoorji Pallonji Real Estate join forces to invest Rs 270 crore in a new housing project in Gurugram. The development, spread over 1.74 acres, is projected to generate over Rs 1,200 crore in revenue in five years, with plans to launch more luxury projects.

KREEVA, in partnership with ASK Property Fund and Shapoorji Pallonji Real Estate, has announced a Rs 270 crore investment for a housing development in Gurugram's Sector 46. The project, set on 1.74 acres, aims to yield over Rs 1,200 crore in top-line revenues within five years, indicating significant market potential.

Venkatesh Gopalakrishnan of Shapoorji Pallonji emphasized the collaboration's role in fulfilling consumer demands for modern, high-quality residences. Gautam Kanodia of KREEVA highlighted the investment's importance for the company's growth, as it files plans for multiple future projects in the Delhi-NCR market.

With a commitment to expansion, KREEVA plans to introduce three ultra-luxury ventures by 2025. The Kanodia Group, initially known for cement and hygiene products, is diversifying its portfolio with recent forays into real estate and media sectors.

(With inputs from agencies.)