Shapoorji Pallonji Real Estate has unveiled BKC 9, a new project supported by WSB Fund II. It anticipates generating over INR 250 crore in revenue.
Mumbai, February 6, 2024: Following the remarkable success of Shapoorji Pallonji Real Estate's distinguished project BKC 28, WSB Real Estate Debt Fund II (WSBREDF II) has injected INR 55 crore into another prestigious venture, BKC 9, located in Bandra East, Mumbai.
BKC 9 represents a joint venture between Shapoorji Pallonji Real Estate (SPRE) and Vakratunda Realty Private Ltd.
WSBREDF-II fund has pledged an investment of INR 55 crore to finalize the upscale project, BKC 9. This demonstrates the fund's dedication to supporting innovative and top-notch real estate initiatives.
Following the INR 75 crore investment in BKC 28 back in 2022, which generated sales of about INR 200 crore, the collaboration aims to replicate its success in the thriving real estate sector.
Building on the success of BKC 28, SPRE and Vakratunda are delighted to introduce BKC 9, an ambitious residential project situated on a 0.41-acre plot. This carefully planned development consists of 92 meticulously designed apartments offering a variety of 2BHK and 3BHK layouts to meet the diverse preferences of discerning homebuyers.
Apartment prices start at INR 2.11 crore. The project is particularly appealing to professionals seeking a harmonious blend of contemporary living and convenience.
Commenting on the launch, Mr. Nirav Dalal, Business Head and Chief Investment Officer at Shapoorji Pallonji Real Estate, stated, "Following the success of BKC 28, the introduction of BKC 9 is a strategic move to address the growing demand for high-quality homes.
Our partnership with WSB Partners underscores our commitment to delivering innovative and top-notch developments that redefine residential living standards."
He further added, "The launch of BKC 9 demonstrates our ongoing efforts to offer a modern lifestyle in Bandra East, one of Mumbai's premier locations."
Mr. Ram Makhecha, Director of Vakratunda Realty Private Ltd., expressed, "We are excited to begin another promising venture with Shapoorji Pallonji Real Estate as joint venture partners for the BKC 9 project.
This marks our second joint venture project with the company. We are confident that the success of BKC 9 will deepen our partnership and make a substantial contribution to Mumbai's dynamic real estate scene."
Mr. Vinit Prabhugaonkar, Managing Partner at WSB Partners, remarked, "The unveiling of BKC 9 signifies another important achievement in our continued partnership with Shapoorji Pallonji Real Estate and Vakratunda Group.
We believe that this collaboration will replicate the success of our past endeavors with them. We have full confidence in the group's capacity to deliver top-notch residential projects like BKC 9 and BKC 28."
Situated strategically in Bandra East, BKC 9 benefits from superb connectivity to the bustling commercial center of BKC, the Western Express Highway, the Bandra-Worli Sea Link, Mumbai International Airport, and a forthcoming Metro station. Rising 20 floors high, BKC 9 offers various amenities, such as a swimming pool, banquet hall, gymnasium, and Vastu-compliant apartments.
It is enveloped by a robust social and civic infrastructure, including well-known educational institutions, healthcare facilities, and entertainment destinations like Jio World Drive.
Shapoorji Pallonji Real Estate (SPRE) is a highly respected and esteemed player in India's real estate sector, known for its innovative design, high construction standards, and architectural brilliance. It is a significant part of the Shapoorji Pallonji Group, a vast conglomerate with a legacy spanning over 157 years, connecting iconic historical structures to contemporary marvels.
With a potential development area exceeding 142 million square feet, SPRE has expanded its presence across major Indian cities like Mumbai, Pune, Bangalore, Gurugram, and Kolkata. It offers a diverse range of developments, including luxury apartments, lavish residences, affordable homes for middle-income buyers, and one of India's largest mass housing projects.
WSB Partners, formerly known as 'Walton Street India', is an alternative asset manager focused on India. Founded by the ex-India team of Walton Street Capital (Kaushik Desai, Vinit Prabhugaonkar, Vimal Jangla) and the Blacksoil group, WSB boasts a leadership team with an average of over 20 years of professional experience.
They have worked together for more than 15 years, contributing to the establishment and growth of Walton Street Capital's India debt business. Since 2013, WSB has invested over US$ 275 million in the real estate sector. The group has made 53 investments across 5 major cities, overseeing 80+ projects, and has successfully exited from 70% of these transactions.
