Sattva Group aims to generate Rs 5,500 Cr from 1st housing project in Mumbai

Realty Firm Sattva Group has launched its first residential project 'Sattva Sumera' at Parel in Mumbai. The group aims to generate a revenue of Rs 5500 Crores from the project.

New Delhi: Realty firm Sattva Group will develop a housing project in Mumbai with an estimated revenue of Rs 5,500 crore, as part of its expansion plan.

In a statement on Wednesday, the company said it has launched its first residential project ‘Sattva Sumera’ at Parel in Mumbai.

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The project, spread across a two-acre land parcel, has a total development potential of over 20 lakh square feet and an estimated revenue potential of Rs 5,500 crore.

Shivam Agarwal, VP Strategy, Sattva Group, said, “Mumbai is at a point where redevelopment is no longer just about replacing older buildings, it’s about improving how people live.” He said the housing demand continues to be strong in the Mumbai Metropolitan Region (MMR) and the company is looking to grow its business in the city.

Headquartered in Bengaluru, Sattva Group is one of the leading real estate developers in the country. It has presence across eight Indian cities.

The group has delivered 80 million sq ft area so far, with another 100 million sq ft in various stages of planning and development.

Sattva Group and Blackstone have sponsored listing of India’s largest commercial REIT, Knowledge Realty Trust (KRT), which has a portfolio of 46 million sq ft of Grade A office assets across six cities.