Vaishnavi Group To Develop 10 million Sq Ft in Bengaluru Aiming For 5K Cr in Revenue

Vaishnavi Group of Bengaluru intends to develop 6 million square feet (msf) of residential projects and 4 msf of office space in Bengaluru, with a potential top-line revenue of Rs 5,000 crore.

During the prior fiscal year, they completed approximately 3 million sqft of residential space and launched an additional 2.1 million sqft operating in the price range of Rs 60 lakh and Rs 6 crore.

The company recently completed the development of 896 units in residential projects totaling 1.2 million square feet in the Yelahanka real estate market.

They partnered with the US-based construction company Katerra Inc, and the project was one of the largest pre-cast construction projects in the south as per the company.

One of Vaishnavi Group's under-construction developments in the central business district consists of 2800 square feet of luxury apartments. The endeavour will be concluded in July of next year at a cost of Rs 21,000 per square foot. In addition, the company is concluding by August a 53-acre plotted development in northern Bengaluru.

Vaishnavi Group also plans a 62-acre development in the Sarjapur neighbourhood of eastern Bengaluru. There will be approximately 30 acres of plotted development and the remainder will be villas. On 32 acres, the villas will begin at Rs 11,000 per square foot, and each unit will cost approximately Rs 3.4 crore.

The company has also identified a second 30-acre parcel for plotted development about 2 kilometres distant from the project site.

In addition, the company is launching 8 lakh square feet in Banashankhari and a 60-acre plotted development in Mysuru's prominent location.

Today, we are concentrating on larger developments, such as villas and row houses, where we can maximise sales per square foot, as stated by Govindaraju.

Office space in Focus

Govindaraju stated that the company intends to construct 3.75 million square feet of office space in Bengaluru, of which 3.25 million square feet will be launched in the current fiscal year.

he also mentioned that they had completed approximately 5 million square feet of Class A office space in the city, of which approximately 1.5 million square feet were completed in 2022. They are also aiming to enter into the Hyderabad real estate market in 2023.

Within six months, Vaishnavi Group will also begin construction on the Chalukya Hotel to construct 1.5 lakh square feet of Class A office space in the city's central business district for a rental yield of approximately Rs 335 crore.

The company has begun construction of 500,000 square feet of Class A office space in JP Nagar, opposite Vega City Mall in southern Bengaluru with an aim to finish the same within 18 to 24 months.

Govindaraju also confirmed that they had acquired a 17-acre land parcel adjacent to Airport Road in north Bangalore.