Concorde outlays ₹1,200 crore to expand its residential portfolio

Real estate firm Concorde is slated to invest about ₹1,200 crore over the next three years to expand its range of residential offerings

The company, which is celebrating its 25th anniversary this year, is gearing up to launch 3.5 million sq ft of premium and luxury residential spaces, with the new projects set to commence in the third quarter of this financial year.

The primary geographic focus will remain on North and East Bangalore, as these regions boast high demand, abundant opportunities, and good absorption rates, making them ideal for development, the company said in a release.

With six residential projects in the pipeline, Concorde aims to generate annual sales of around ₹500 crore during this period of rapid growth. In a previous conversation with businessline, the company mentioned generating revenues of ₹400 crore in FY23. The forthcoming launches will primarily cater to the premium and luxury segments, providing a diverse range of apartments, villas, and villa plots.

Future plans

“We will launch a total of 16 lakh sq ft across three projects this year and are actively exploring upcoming areas in Bengaluru like Malur, Whitefield, Sarjapur, Yelahanka, Vidyaranyapura, and more. We are dedicated to incorporating smart features into all our homes, with a prime focus on building vibrant communities and neighbourhoods,” said Nesara B.S., Chairman, Concorde.

The real estate player possesses a land bank spanning over 120 acres, where term sheets have already been signed for the development of apartments and plots.

Despite already having a strong presence in South Bangalore, the company remains committed to further growth in that region.