Bengaluru-based property developer Century Real Estate is set to launch eight new housing projects spread across 55 acres in the next 18 months. These projects in North and East Bengaluru will be suited for middle-class home buyers who have long been demanding premium homes. Hones priced above ₹1.4 crores, the projects will resonate well with the company’s strategy of repositioning as a high-end market player.
Maninder Chhabra, director of sales, marketing, and CRM for Century Real Estate, confirmed the aggressive plans to expand the company, stating that for each project, financial partnerships will be used when necessary. The total revenue potential or gross development value for these upcoming ventures has not been disclosed by the company.
Two of the eight planned projects, Codename Built Rare in Indiranagar and Codename Unbelievable in Yelahanka, have already seen significant success during their pre-launch phase, generating ₹650 crore in sales. Both projects are set for official launches within the next two months. Notably, Codename Built Rare is expected to set a new pricing benchmark for Bengaluru’s residential market, with units ranging from ₹5.5 crore to ₹25 crore. The project is positioned on 8.5 acres and will feature 345 apartments in configurations of three and four bedrooms, townhouses, and penthouses. Revenue from this project was projected to be about ₹2,200 crores.
Century Real Estate is also looking forward to a significant financial milestone this year. The company is targeting a doubling of the turnover to ₹2,100 crore for the current financial year. With ₹1,024 crore already achieved during the first half, the company is well on its way. Chhabra says the growth pattern continues in that trend in which the company’s revenue has doubled in the last few years and Century will continue on that path by judiciously utilizing the land bank besides doing joint development agreements wherever required.
Looking ahead, Century Real Estate is also exploring the senior living segment, with plans to launch a modest project in this category in the next financial year. Additionally, Chhabra mentioned that if the firm can manage to earn a position in the top three real estate developers of Bengaluru then a public listing shall be considered.
Century Real Estate, which has collaborated with major players like Prestige Estates and Brigade Enterprises in the past, continues to tap high growth opportunities in the residential real estate market of Bengaluru.
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