Bengaluru-based real estate developer Concorde plans to expand its residential portfolio with investments worth Rs 1,200 crore in the next three years, the company said in a press statement on Thursday.
A total of eight projects under the plan will be spread across 3.5 million square feet in north and east Bengaluru, company Chairman Nesara BS told DH.
“These regions boast of high demand, abundant opportunities and remarkable absorption rates, making them ideal for development,” the company reasoned.
Nesara anticipates completion of the projects in the next 3.5 years. Housing units in five out of the eight projects will be priced at Rs 1 crore or below, he added.
Elaborating on targets for the current fiscal year, Nesara cited three projects spanning 16 lakh square feet. While two of the said projects will break ground in the third quarter ended December 2023, one will commence in the last quarter of the financial year, he added.
“We are actively exploring upcoming areas in Bengaluru like Malur, Whitefield, Sarjapur, Yelahanka, Vidyaranyapura, etc,” he said.
The realty player is also eyeing annual sales to the tune of Rs 500 crore during the three-year period.
“Concorde currently possesses a land bank spanning over 120 acres, where term sheets have already been signed for the development of apartments and plots,” the company said in its statement.
(Published 25 August 2023, 01:33 IST)
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