Shapoorji Pallonji Bets Big on Gurugram Real Estate with New ₹1,400 Cr Project

Shapoorji Pallonji Real Estate (SPRE), in association with Kreeva and ASK Property Fund, has announced the launch of a premium residential project in Gurugram with an estimated revenue potential of ₹1,400 crore. The announcement was made on Thursday as part of SPRE’s expansion strategy in India's booming luxury housing segment.

Strategic Tie-Up for Sector 46 Project

This launch follows a joint venture agreement formalised in October 2023 between SPRE and Kreeva, the real estate arm of the Kanodia Group. The collaboration led to the development of a 1.75-acre land parcel located in Sector 46, Gurugram—a locality noted for its connectivity and high-growth potential.

The Dualis: Twin Tower Luxury

The newly unveiled project, The Dualis, comprises 198 high-end apartments distributed across two towers, each rising up to 150 metres. The apartment sizes range from 2,850 to 3,600 square feet, targeting the upper end of the homebuyer market looking for spacious residences in NCR.

SPRE Confirms Commitment to Gurugram Market

In its official statement, SPRE projected a topline revenue of over ₹1,400 crore from the project over the next five years. Company CEO Sriram Mahadevan stated that the launch of The Dualis marks their entry into one of Gurugram’s most promising micro-markets, combining key aspects of location, scale, and quality. He described the venture as a long-term investment supported by partners who share SPRE’s commitment to timely delivery and value creation.

Partnership Rooted in Market Insight and Funding

Mahadevan also noted that the collaboration blends institutional funding with local market knowledge and a legacy of construction excellence. Supporting the sentiment, Mayank Jain, CEO of Kreeva, described the partnership as a strong endorsement of Sector 46’s investment appeal.

Expanding Footprint in NCR

This is SPRE’s second major residential venture in Gurugram, following the earlier launch of Joyville Gurugram in Sector 102. The company is reportedly reinforcing its presence in the National Capital Region through this new project, in line with its overall national strategy.

About the Players

SPRE is part of the Shapoorji Pallonji Group and ranks among India’s leading real estate developers, with a portfolio exceeding 142 million square feet across cities like Mumbai, Pune, Bengaluru, Gurugram, and Kolkata.

Meanwhile, the Kanodia Group, Kreeva’s parent entity, operates across multiple sectors including cement, building materials, media, and real estate.

Disclaimer: This news article is based on a syndicated feed and has been edited for clarity and context. Readers are advised to verify independently before making real estate or investment decisions.