Century Real Estate Targets Bengaluru Expansion with Eight Projects in the Next 18 Months

Century Real Estate is planning to develop eight new housing projects across more than 55 acres in the next 18 months. These projects are spread over North and East Bengaluru, which are in high demand for residential spaces. The company’s focus is on high-end housing, with prices starting above ₹1.4 crore. The details regarding the expected revenue or gross development value of these projects have not been shared yet. However, Century Real Estate is optimistic about the demand for premium homes in Bengaluru.

The company has already seen positive sales before officially launching two of these projects. One project, “Codename Built Rare,” is located in Indiranagar, and the other, “Codename UnbeLivable,” is in Yelahanka. These pre-launch sales have already brought in approximately ₹650 crore. This early interest shows the strength of the Bengaluru real estate market, particularly in the luxury segment. Both of these projects are expected to be formally launched soon, with Codename Built Rare expected to set new pricing standards in the market.

Bengaluru has seen a growing demand for luxury properties. As the city grows as an IT and business hub, there are more professionals and entrepreneurs with disposable income looking for high-quality residential spaces. Century Real Estate is targeting this market by focusing on luxury homes. One of the upcoming projects will cover 8.5 acres and will have 345 units, including three and four-bedroom apartments, townhouses, and penthouses. Prices for these units are expected to start at ₹5.5 crore, with some units priced as high as ₹25 crore. The project is expected to bring in around ₹2,200 crore in revenue. 

Financially, the company reported a turnover of over ₹1,000 crore last year and plans to double its revenue this year, aiming for ₹2,100 crore. The company has already exceeded its previous year's revenue in the first half of the current fiscal year, which is a positive sign. Century Real Estate’s success can be attributed to its strong land bank and its strategy of entering joint development agreements when needed.

By working with larger developers like Prestige Estates and Brigade Enterprises, Century Real Estate has been able to expand its projects without taking on all the development risks. These partnerships allow the company to leverage the experience and resources of its partners.

Century Real Estate is also looking into expanding into new areas of real estate development. One of the segments it is considering is senior living. As India’s population ages, there is a growing demand for housing that is designed specifically for older adults. This segment is still in its early stages in India, but the company sees potential in this area. Century Real Estate plans to explore senior living projects in the next financial year, as part of its long-term strategy to diversify its offerings.

Regarding its future plans, there are questions about whether Century Real Estate will go public in the near future. The company’s director, Maninder Chhabra, mentioned that a public listing is something they would consider, but it is not something they are focusing on right now. The company aims to secure a top-three position in Bengaluru’s real estate market before exploring this option. Century Real Estate’s strong financial performance and growth potential could make it an attractive candidate for a public listing in the future.

Image source- centuryrealestate.in