Shapoorji Pallonji to monetise 3,000-acre land, eyes Rs 10,000 cr from plotted

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The Economic Times daily newspaper is available online now. Read Today's Paper Shapoorji Pallonji to monetise 3,000-acre land, eyes Rs 10,000 cr from plotted developmentsBy Kailash Babar, ET BureauLast Updated: Nov 04, 2026, 02:01:00 AM ISTSynopsis

Shapoorji Pallonji Real Estate aims to develop a substantial plotted township in the Mumbai-Pune corridor. The project covers 900 acres and has an estimated gross development value exceeding Rs 6,000 crore. The company has secured approvals for the first phase, which spans 200 acres and will generate about Rs 1,800 crore.

Shapoorji Pallonji Real Estate, the real estate arm of the Shapoorji Pallonji Group, is looking to monetise its landbank of over 3,000 acres across Maharashtra through a series of plotted development projects over the next three to four years, with a cumulative revenue potential of over Rs 10,000 crore, said a top company official.

The group owns these land parcels in Mumbai Metropolitan Region, Pune and Nagpur. As part of this strategy, the company will be developing a plotted township on a 900-acre land parcel in the Mumbai-Pune corridor, with an estimated gross development value (GDV) of over Rs 6,000 crore.

The project focused on wellness will be developed in phases, with the first 200 acres expected to contribute around Rs 1,800 crore to the overall revenue potential.

“Our landbank across Maharashtra provides us with an opportunity to build a sizeable plotted development portfolio. We intend to unlock the value of these land parcels through a phased development strategy, with plotted developments expected to contribute over Rs 10,000 crore in revenue over the next three to four years,” Venkatesh Gopalakrishnan. Director, Group Promoter's Office & Managing Director, Shapoorji Pallonji Real Estate, told ET.

The 900-acre land parcel is located in Khopoli, along the Mumbai-Pune corridor, and is surrounded by hills and water bodies. The proposed development will primarily focus on wellness-related facilities, with sports and adventure components planned as part of subsequent phases. The company is targeting the second-home segment through the project.

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“We see plotted development as an additional avenue to unlock our land holdings across Maharashtra. This will be done in phases, with the scale and timing of each development determined by its location and market potential,” Gopalakrishnan added.

The developer has finalized master plan for the entire land parcel, and secured all key approvals for the first phase spread across 200 acres. The first phase is expected to be fully developed within 30 months, he added.

The group has invested around Rs 1,500 crore in the project, including the land cost, which has been fully secured. SPRE's in-house team has undertaken the aggregation of the entire 900-acre contiguous land parcel.

The proposed development follows the company's recent plotted development project spread across more than 100 acres on the outskirts of Pune. This marked SPRE's entry into the plotted development segment and is part of its broader strategy to unlock value from its land holdings.

The company plans to progressively develop portions of its landbank through multiple plotted development projects, which are expected to be initiated and monetised over the next three to four years.

The strategy comes amid growing interest among organised developers in plotted developments, particularly in peripheral markets and locations that offer second-home opportunities. Such projects allow developers to monetise large land parcels through phased development, while buyers acquire individual plots for constructing independent homes.

For SPRE, the plotted development pipeline represents an additional avenue to generate revenues from its land holdings alongside its residential and commercial real estate portfolio.
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