Emami Realty, a subsidiary of the Kolkata-based Emami Group, is set to launch two new residential projects in Chennai. Together, these developments will cover an area of approximately 20 lakh square feet, as published by Construction World.
This move is part of the company’s larger plan to introduce 12 projects across major Indian cities, spanning 220 lakh square feet of residential and commercial spaces, over the next seven years. The total investment for these ventures in West Bengal, Uttar Pradesh, Tamil Nadu, Odisha, and Jharkhand is projected to be around Rs 100 billion.
Nitesh Kumar, Managing Director and CEO of Emami Realty, told BusinessLine that the company is already operational in Tamil Nadu. Emami Realty completed a project in Chennai three years ago and is currently overseeing an ongoing development in Coimbatore. Kumar confirmed that construction for the two new residential projects in Chennai is set to begin soon.
The first project, covering 8.5 lakh square feet, is scheduled for completion in 2028, while the second project, spanning approximately 11 lakh square feet, is expected to be finished by the end of 2029. Both will feature upper-mid housing.
In addition to these developments, Emami Realty owns around 100 acres of land in Hyderabad. However, Kumar noted that the company has yet to decide whether to develop the land or sell it.
Of the 12 upcoming projects, five will be launched outside of West Bengal. These developments will leverage Emami Realty’s existing land bank, and the total revenue potential is estimated at Rs 150 billion.
As the company already owns the land for these projects, financing will be focused solely on construction costs, which will be covered through internal accruals and project sales.