Arihant Foundations to invest Rs 650 crore in real estate, forays into Bengaluru
As part of its Bengaluru plans, the company intends to develop Grade A office spaces with an investment of Rs 150 crore.
-Moneycontrol
Chennai-based listed real estate developer Arihant Foundations and Housing plans to invest Rs 650 crore in its home city and Bengaluru within FY25, managing director Kamal Lunawath told Moneycontrol.
It will invest Rs 150 crore to develop Grade A office spaces in Bengaluru and the rest of the investment will be in Chennai real estate.
“We are looking at projects close to the central business district in Bengaluru, the northern part and also close to the eastern IT corridor of Whitefield. For the first half of FY25, we are looking to close some commercial transactions in the city. Additionally, we are also scouting for land parcels for the residential segment,” Lunawath said.
Currently, the company is looking to develop close to 0.5 million sq ft (msf) of commercial space and 1 msf of residential space in both cities in FY25. To date, Arihant has developed 20 msf in Chennai, with 4 msf of office space.
