 "Shapoorji Pallonji Real Estate eyes Rs 400 crore sales in Bengaluru")
Shapoorji Pallonji Real Estate is targeting sales of Rs 400 crore from its new residential tower in Bengaluru.
The company has launched a tower named 'CEDAR', comprising 225 apartments, in its 46-acre residential project Parkwest in Bengaluru, Shapoorji Pallonji Real Estate said in a statement.
The value of sales from these 225 units in the tower is estimated at Rs 400 crore, it added.
The price of each unit starts from Rs 1.62 crore.
The company has launched about 2,371 apartments. Of these, more than 700 units have been handed over to the homebuyers.
Commenting on the launch, company CEO Venkatesh Gopalakrishnan said: Considering the overwhelming response from homebuyers, we are launching tower CEDAR at Parkwest 2.0. We believe this is the right time to bring the best products to the Central Bengaluru micro-market."
Sumit Sapru, Business Head, Shapoorji Pallonji Real Estate said the company has witnessed a steady demand for spacious luxury homes in the Bengaluru market.
The company is a part of the Shapoorji Pallonji Group an enormous multi-business conglomerate.
Shapoorji Pallonji Real Estate has presence in Mumbai, Pune, Bengaluru, Gurugram and Kolkata. The company is developing six projects in phases.