Prashant Vermaa Business Blog

Hiranandani Group is projecting a 15–20% growth for the financial year 2025–26, supported by new launches, redevelopment ventures, and ongoing platform expansions.

Township in Alibaug by September 2025

Dr Niranjan Hiranandani, Chairman of the Hiranandani Group, revealed in an exclusive interaction with ETRealty that the company will unveil a 225-acre hospitality-centric township in Alibaug by September 2025. The project will feature villas, serviced apartments, plotted developments, hotels, and water sports facilities.

Redevelopment and Regional Expansion

This financial year, the group will roll out four redevelopment projects, two of which are set to commence shortly. Additional activities are also underway in Chennai and Bengaluru.

Hiranandani highlighted that the real estate market is undergoing consolidation, with mid-tier developers finding it difficult to sustain due to capital limitations and regulatory hurdles. He pointed out that overall market volumes have slipped, primarily because affordable housing demand has dropped by 20–25% over the past 18–24 months. In contrast, mid and premium housing segments have remained steady, recording an average annual growth of 12% between April 2024 and March 2025.

Challenges in Mumbai’s Redevelopment Model

On redevelopment in Mumbai, he stressed that close to 50% of unit sale proceeds are absorbed by government levies such as stamp duty, development premiums, and additional FSI charges. This cost structure, he said, makes affordable housing delivery financially unviable in several city areas.

Commercial, Industrial, and Warehousing Outlook

On the commercial side, Hiranandani noted that grade-A office spaces are maintaining high occupancy levels. This, he added, is expected to generate a positive ripple effect on residential demand within the next six to twelve months.

The company is also enlarging its industrial and warehousing portfolio under the GreenBase platform, a joint venture with Blackstone. The platform currently spans 250 acres in Pune, 110 acres in Chennai, 70 acres in Bhiwandi, and 50 acres in Vasai, with two more projects planned for the year.

Data Centre Investments

In the data centre business, the group has already invested over ₹7,000 crore across three facilities located in Navi Mumbai, Panvel, and Greater Noida.