Merlin Group Plans Rs 10,000 Crore Investment in Bengal Over the Next Ten Years
The Merlin Group, one of Bengal’s prominent real estate developers, has announced its ambitious plan to invest over Rs 10,000 crore in the state within the next seven to eight years. This substantial investment is expected to spur development across various sectors, including residential and commercial real estate, retail, hospitality, healthcare, and township projects. The company's vision highlights a significant commitment to Bengal’s growth, with numerous projects already underway and many more in the pipeline.
Saket Mohta, the Managing Director of Merlin Group, recently unveiled the company’s new corporate brand identity, marking the beginning of a major expansion strategy. Mohta emphasized that this investment would bring a transformation in Bengal's real estate and development sectors. Holding a substantial land bank of around 200 acres across the state, Merlin is well-positioned to undertake multiple projects over the coming years. To date, the company has developed around 30 million square feet of space in Bengal, with an additional 10 million square feet either completed or in progress across other regions of India.
The company has set a high target for the next few years. "In the next few years, we shall develop another 1.5 crore square feet in Bengal and another 50 lakh square feet in the rest of the country. In total, we shall develop around 2 crore square feet," Mohta stated. This ambitious target reflects Merlin Group’s goal of reshaping the real estate landscape in Bengal and extending its influence across India.
Among the projects lined up in Bengal, Merlin Group is focusing on expanding its retail and healthcare portfolios. Plans include two additional malls under its well-known Acropolis brand. These new establishments, Acropolis South in Behala and another along BT Road in North Kolkata, are set to attract local and regional shoppers alike. The malls will serve as key hubs for commerce and social activities, potentially stimulating local economies and creating job opportunities.
The group is also planning to develop a comprehensive health city in Sodepur, which will include a multi-specialty hospital along with a residential township. This health city aims to address the increasing demand for healthcare services in the region by providing a state-of-the-art medical facility with easy access for nearby residents. The township development around the hospital will offer residential spaces for people seeking to live close to quality healthcare services. This holistic approach aligns with Merlin’s vision to contribute to Bengal's healthcare infrastructure.
In addition to local projects, Merlin Group is looking beyond Bengal for growth opportunities, with Maharashtra emerging as another priority area. The company has initiated four major projects in Pune, which include a township, a commercial building, a residential complex, and a mixed-use property. These projects span 40 lakh square feet, with Merlin setting its sights on becoming one of the leading real estate players in Pune within the next five years. After establishing its presence in Pune, the company plans to expand into Navi Mumbai, where it is actively seeking a 2-2.5 acre land parcel. Mohta expressed optimism that this expansion will materialize in the next 1-1.5 years, allowing Merlin to diversify its portfolio and strengthen its foothold in Maharashtra.
Moreover, as part of its contribution to the proposed World Trade Centre project in Kolkata, Merlin Group plans to build a five-star hotel, premium office spaces, and a high-street retail area. This initiative is set to position Kolkata as a significant player on the global business stage by creating an international business environment within the city. Such developments also reinforce Merlin’s reputation as a forward-looking real estate company focused on innovation and premium real estate solutions.
In terms of revenue, Merlin Group is aiming for substantial growth. Currently, the company’s annual revenue stands at approximately Rs 1,500 crore. However, with these new projects and strategic expansions, Merlin is targeting to increase this figure to Rs 2,600 crore in the near future. This expected revenue growth is not only a testament to Merlin’s ambitious vision but also reflects the growing demand for modern infrastructure and urban development in India.
