Shapoorji Pallonji Eyes 10,000 Cr from 3,000-Acre Land Monetisation

Shapoorji Pallonji Real Estate plans to monetise over 3,000 acres across Maharashtra through plotted developments over the next three to four years, targeting more than ₹10,000 crore in revenue.

Shapoorji Pallonji Real Estate (SPRE), the real estate arm of the Shapoorji Pallonji Group, plans to monetise its landbank of more than 3,000 acres across Maharashtra through a series of plotted development projects over the next three to four years. The company expects these developments to generate cumulative revenue of over ₹10,000 crore as it expands its presence in the plotted housing segment.

The land parcels are located across the Mumbai Metropolitan Region (MMR), Pune and Nagpur. As part of the strategy, SPRE is developing a 900-acre plotted township in Khopoli along the Mumbai-Pune corridor, with an estimated gross development value (GDV) of more than ₹6,000 crore.

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The township will be developed in phases, with the first phase covering 200 acres and carrying an estimated revenue potential of around ₹1,800 crore. The company has secured key approvals for this phase and finalised the master plan for the entire land parcel. Development of the initial phase is expected to be completed within 30 months.

The Khopoli project will focus on wellness-oriented living, supported by its location amid hills and water bodies. Plans also include sports and adventure facilities in subsequent phases. The development will target buyers seeking second homes along the Mumbai-Pune corridor.

According to Venkatesh Gopalakrishnan, Director, Group Promoter's Office and Managing Director of Shapoorji Pallonji Real Estate, the company aims to unlock the value of its Maharashtra land holdings through a phased development strategy. The group has invested approximately ₹1,500 crore in the Khopoli project, including land costs, and has completed the aggregation of the contiguous 900-acre parcel through its in-house team.

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The proposed township follows SPRE's recent entry into plotted developments through a project spanning more than 100 acres on the outskirts of Pune. The company plans to progressively bring additional land parcels into development, with the scale and timing of each project determined by its location and market potential.

The strategy reflects growing interest in plotted housing, particularly in peripheral urban markets and second-home destinations. For SPRE, the segment offers another avenue to generate revenue from its land holdings alongside its residential and commercial real estate portfolio.