Sowparnika Projects Plans ₹500 Crore Fundraise to Boost Revenue
Sowparnika Projects eyes Rs 500 crore fundraise to double revenue
The Economic TimesImage: The Economic Times
Sowparnika Projects, a real estate firm in South India, aims to raise ₹500 crore (approximately $60 million USD) to expand its project portfolio and double its revenue from ₹850 crore to ₹1,500 crore by FY2026-27. The company plans to develop 5.5 million square feet across Bengaluru, Kerala, and Tamil Nadu over the next two years.
- 01Sowparnika Projects aims to raise ₹500 crore for expansion.
- 02Revenue target set to double from ₹850 crore to ₹1,500 crore by FY2026-27.
- 03Plans to develop 5.5 million sq ft in Bengaluru, Kerala, and Tamil Nadu.
- 0460-70% of customers are first-time home buyers.
- 05The firm has raised approximately ₹340 crore in debt financing.
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Sowparnika Projects, a prominent real estate firm operating in South India, is in advanced discussions to raise ₹500 crore (approximately $60 million USD) to fund its ambitious expansion plans. The Managing Director, Ramji Subramaniam, stated that the firm aims to double its revenue from ₹850 crore to ₹1,500 crore by the fiscal year 2026-27. Over the next 18 to 24 months, the company plans to develop 5.5 million square feet of residential space across key markets including Bengaluru, Kerala, and Tamil Nadu. Currently, Sowparnika Projects caters to the mid and upper-mid residential market, with 60 to 70 percent of its customers being first-time home buyers. The firm has already secured land for development and is exploring new markets while also considering partial exits from previous investments. Additionally, Sowparnika has raised around ₹340 crore in debt from various financial institutions, including Blacksoil and Aditya Birla Capital.
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This expansion could lead to increased housing availability and job creation in the real estate sector, benefiting first-time home buyers and local economies.
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