Real estate: Deconstructing Shapoorji Pallonji Group’s housing ambitions

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Subscribe to enjoy similar stories. Bengaluru: It’s impossible to miss the 60-storeyed skyscraper in south Mumbai’s posh Tardeo locality. Named The Imperial, the iconic blue and white twin towers with conical tops were designed by noted architect Hafeez Contractor.

Built by SD Corp, a joint venture between the infrastructure-to-energy conglomerate Shapoorji Pallonji Group and the Dilip Thacker Group, the residential building was one of the earliest slum redevelopment projects in India’s financial capital. When it was completed in 2010, it was India’s tallest building, and altered the skyline of the city. While The Imperial is one of its best-known real estate projects, the 160-year-old Shapoorji Pallonji Group is better known for its construction chops.

As a contractor, it has built a number of well-known edifices, including the Reserve Bank of India (RBI) headquarters and Oberoi Towers in Mumbai, as well as a number of structures overseas. It has executed projects for multiple developers, including DLF and Godrej Properties, and also built hospitals, hotels, educational campuses, industrial parks, as well as Ikea’s Bengaluru store. The group is now looking to broaden its own presence in the real estate business, especially the residential market, in which it is a mid-level contender and a good distance away from leaders DLF Ltd, Prestige Group, Macrotech Developers Ltd and Godrej Properties Ltd.

The four publicly listed developers clocked around ₹73,000 crore of sales bookings in 2023-24. This year, they are collectively targeting ₹88,000 crore of sales. Shapoorji Pallonji Real Estate Pvt.