Shapoorji Pallonji's New Mumbai Housing Project: Rs 250 Crore Revenue

New Delhi, Feb 6 (PTI) Shapoorji Pallonji Real Estate is expecting over Rs 250 crore revenue from its new housing project in Mumbai and has raised Rs 55 crore to finance the development.

In a statement, the company said WSB Real Estate Debt Fund II (WSBREDF II) has invested Rs 55 crore in its premium project 'BKC 9' at Bandra East, Mumbai.

The project is a collaborative effort between Shapoorji Pallonji Real Estate (SPRE) and Vakratunda Buildcon Private Ltd. (VBPL).

The company anticipates revenue exceeding Rs 250 crore from this project, it said.

"The WSBREDF-II fund has committed an investment of Rs 55 crore to complete the premium project, BKC 9," it said.

The project, spread over nearly half acre of land, has 92 apartments.

The price of the apartments starts at Rs 2.11 crore.

Nirav Dalal, Business Head and Chief Investment Officer, Shapoorji Pallonji Real Estate, said, "Our collaboration with WSB Partners reinforces our dedication to delivering innovative and top-tier developments that redefine the standards of residential living."

Shapoorji Pallonji Real Estate in one of the leading realty firms in the country. It has a development potential of over 142 million square feet.