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Alliance Group unveils ₹8,600cr projects in South India

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Alliance Group, a real estate developer, plans to launch projects totaling 25 million square feet in Bengaluru, Chennai, and Hyderabad in the current fiscal year, involving an investment of Rs 8,600 crore, according to Manoj Namburu, Chairman, Alliance Group and Urbanrise. Apart from expanding its commercial footprint, the company is negotiating with institutional funds for a warehousing platform space. The company’s DNA is financial discipline, which it uses to leverage large-scale real estate investments across South India. This financial discipline is what draws and attracts the best financial institutions in the world to invest in the company. Kotak Realty Fund has invested about Rs. 800 crore in the developer’s five projects in Chennai and Hyderabad.

It currently has 20,000 homes under construction and plans to build over 50,000 units in the next three years. Despite the third Covid-19 wave, sales reached a four-year high in the first quarter of 2022, with 78,627 residential units sold, according to a market assessment report by Knight Frank, India’s premier real estate consultancy. Low interest rates, the best affordability levels, strong wage growth, and the waning pandemic, with less risk of further disruptions, have created a favourable environment for homebuyers who have rediscovered the need for new and better housing.

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