Real estate developer Shriram Properties Ltd (SPL) has announced plans for a major housing project in Pune’s Hinjewadi area, with a target Gross Development Value (GDV) of about ₹700 crore.
The project marks the company’s strategic expansion into western India and its second development in the city.
In a recent regulatory filing, the company said it has signed a Joint Development Agreement (JDA) with a landowner to develop a premium residential complex covering around 0.7 million square feet.
The project will comprise about 6.5 lakh square feet of saleable area and is designed to cater to the growing demand for mid-premium housing in one of Pune’s most dynamic micro-markets.
Akshay Murali, Vice-President of Business Development at Shriram Properties, said that the signing of the second project in Pune underscores the company’s confidence in the city’s long-term growth potential.
He added that Hinjewadi, with its thriving IT and industrial ecosystem, offers strong demand fundamentals and remains a preferred destination for both homebuyers and investors.
The developer plans to execute the project using an asset-light model, consistent with its broader strategy of capital efficiency and geographical diversification.
By leveraging partnerships, the company aims to scale its presence in new regions while maintaining steady margins and optimizing returns on investment.
Hinjewadi, one of Pune’s most sought-after residential and commercial hubs, benefits from excellent connectivity via the Mumbai-Pune Expressway and its proximity to the Hinjewadi IT Park.
The area also boasts strong social infrastructure, including reputed schools, hospitals, and retail centers, which has made it a magnet for working professionals and families.
This new project follows Shriram Properties’ first Pune development in Undri, launched earlier in 2025, which saw strong early sales traction.
The success of that project has encouraged the company to expand its footprint in the region, reinforcing its strategy of targeting high-growth micro-markets with rising demand for quality residential properties.
Industry analysts view this development as a reflection of Shriram Properties’ increasing confidence in the western Indian market.
The broader Indian residential real estate sector has been witnessing robust growth, driven by rising disposable incomes, stable interest rates, and improving buyer sentiment post-pandemic.
Developers focusing on mid- and premium-segment housing are particularly benefiting from steady demand among urban professionals.
For Shriram Properties, which has a strong presence in Bengaluru, Chennai, and Kolkata, Pune represents a crucial addition to its portfolio diversification strategy.
The ₹700 crore Hinjewadi project will not only enhance its visibility in a competitive market but also provide a platform for sustained revenue growth in the coming years.
The company has indicated that the project will be launched in phases, with construction expected to begin soon after receiving regulatory approvals.
The development is expected to feature modern amenities, efficient layouts, and sustainable design elements aimed at meeting the evolving expectations of urban homebuyers.
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