Sattva Group Announces ₹14,000 Crore Investment for 80 Million Sq Ft Expansion Across Residential and Commercial Projects
The Sattva Group, has announced an ambitious expansion plan that involves investing approximately ₹12,000-14,000 crore to develop a range of residential and commercial projects with a total built-up area of 80 million square feet. This expansion, expected to take shape over the next two to three years, will involve a strategic rollout of various projects while the financial commitment is projected to span the next six to seven years. According to Shivam Agarwal, Vice-President of Strategic Growth at Sattva Group, the firm has already achieved a substantial milestone, completing 80 million square feet of built-up space through its earlier projects. With the new developments, Sattva aims to replicate this success, signifying the organization’s long-term vision for growth across multiple cities in India.
Mr. Agarwal highlighted a positive trend in India’s residential real estate market, with notable growth in demand for residential spaces. This segment has reportedly rebounded and surged across various regions, contributing to the optimistic outlook within the Sattva Group’s portfolio. He acknowledged a period of uncertainty that recently challenged the office space sector, but with renewed demand and a positive shift in market dynamics, this sector appears poised for recovery. The company’s recent success in residential sales underscores this resurgence. In the previous year alone, Sattva registered approximately ₹3,500 crore in sales, predominantly from residential developments concentrated in key markets such as Bengaluru and Hyderabad. The group aims to elevate this figure to about ₹5,500-6,000 crore in the current fiscal year, reflecting both market demand and the strategic location of its projects.
The company has also been making substantial strides in the emerging co-living space, viewing it as a promising area of growth, particularly as urban centers experience an influx of young professionals. The co-living model has gained traction, appealing especially to those relocating to cities like Mumbai, Bengaluru, and Hyderabad. Recognizing this opportunity, Sattva recently acquired a majority stake in Colive, a well-known player in the co-living sector. With this acquisition, Sattva has expanded its co-living capacity to 13,000 beds and aims to reach a target of 15,000-16,000 beds by the end of the year. Agarwal emphasized that the rising demand for co-living options aligns with the company’s strategy to meet the evolving needs of urban residents.
Sattva’s development history spans over three decades, marked by a diverse portfolio that includes both commercial and residential projects. Out of the 80 million square feet of built-up space completed across 145 projects, nearly 45 million square feet comprises commercial spaces, with the remaining area dedicated to residential projects. Agarwal disclosed that ongoing projects with a total area of 12-13 million square feet are situated in Bengaluru and Hyderabad, two cities that represent the core of Sattva’s operations. Additionally, Sattva is developing a 1.5 million square-foot commercial property in Chennai, expanding its footprint into another major metropolitan area.
One of Sattva’s signature projects, known as IMAGE Towers (Innovation in Animation, Multimedia, Gaming, and Entertainment), is currently under development in Hyderabad. The project, conceived under the Bharat Rashtra Samithi (BRS) government’s initiative, aims to foster a specialized ecosystem for companies in these industries. IMAGE Towers is envisioned as part of a larger triad of innovation-driven initiatives in Hyderabad, which also includes T-Hub, an ecosystem enabler for start-ups, and T-Works, a facility dedicated to hardware-focused start-ups. IMAGE Towers is expected to be the largest commercial pre-fabricated structure in India, showcasing advanced construction techniques and innovative architectural design. The project’s completion is anticipated to make a significant contribution to the city’s infrastructure and support Hyderabad’s growing reputation as a technology and innovation center.
Through these initiatives, the Sattva Group is underscoring its commitment to diversifying its portfolio and addressing emerging trends in the Indian real estate market. By combining large-scale residential developments with specialized commercial spaces and co-living projects, Sattva is positioning itself as a versatile and responsive player in the industry, capable of adapting to evolving market demands and supporting the aspirations of India’s urban population.
Image source- sattvagroup.com
