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OVER `8,700 CR WORTH PROPERTIES REGISTERED IN Joyville has launched six housing projects in four major cities. In
HYDERABAD IN Q2 2022 Pune, the group offers aspirational addresses such as Joyville
Hyderabad witnessed residential property registrations of 5,408 Hinjewadi, Joyville Hadapsar Annexe and Joyville Sensorium.
units in June 2022. Sales registration dipped 25% YoY in June It also has presence near Mumbai (Joyville Virar), near Kolkata CONSTRUCTION
2022 as the market took a breather after observing a continuous (Joyville Howrah), and in Haryana (Joyville Gurugram).
upswing. The platform is exploring multiple options for funds.
Despite the moderation in sales in June 2022, Hyderabad’s overall “As of now, we have not yet decided whether it will be a fund
outlook remains positive as 17,074 properties were registered in or another platform for growth capital. We also have the option
Hyderabad in Q2 2022, a 9.1% YoY increase. The total value of of redeploying the existing surpluses,” Mahadevan said. “So we
properties transacted in Q2 2022 stood at `8,685 crore, a 25% are at that stage where we have not yet decided firmly through
y-o-y rise indicating towards the fact that while lesser number of which route we will expand. Creating a new platform is certainly
homes were registered, the average value of homes registered an option, as is redeploying our existing platform surplus.”
in June was higher than its corresponding period last year. He said getting more investors is also an option. “I think by the
The end-users in the Hyderabad market continue to be drawn end of September we should be in a firm position to close. As
to home purchases encouraged by factors such as stable more and more projects get added to the platform, the better
economic environment, rising household income and amenable the platform returns will be,” said Mahadevan.
home-loan interest rates. While the rising construction cost The company said that young Indians have now started buying
has had an impact on the more price sensitive categories, property, which has led to growth in sales. “Millennials have
its influence on the upper segments was limited, keeping the realised it is very important to own their own home. The flexibility
market robust. Hyderabad remains in the affordable zone despite given by a lot of companies to work from home eliminates travel.
the rise in home loan rates.” So now they want to buy their own place, “Mahadevan said.
The Hyderabad residential market includes four districts namely The impact of an increase in home loan rates may not be much
Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. on people’s realty investment plans as they realise that the rates
are only likely to increase further, so the faster they invest the
REALTY PLATFORM JOYVILLE SHAPOORJI HOUSING TO better.
INVEST `700 CRORE IN LAND ACQUISITION “That still remains positive as far as the real estate sector goes,
Realty platform Joyville Shapoorji Housing will invest `700 crore in and we at Joyville also have got the benefit of this trend,” the
land acquisition even as its promoters explore options for the next executive said.
round of funds, its managing director, Sriram Mahadevan, told ET. Joyville recently acquired another land parcel in Pune, which it
The `1,240-crore platform was established by Shapoorji Pallonji, will take to the market sometime by the third quarter of this year.
Actis, International Finance Corporation (an arm of the World
Bank) and Asian Development Bank for the development of IISER NEW CAMPUS BUILT BY RENOWNED INFRASTRUCTURE
housing projects. The company is looking to take the project DEVELOPERS - NKG INFRASTRUCTURE LTD
count to 17–18 in the next 18 months from 11 now. Permanent campus of Indian institute of Science and Education
“The first platform capital would have been exhausted by the Research (IISER), Berhampur (Odisha) will soon have its 1 batch
st
end of 2022. All the investors are now jointly talking and we have of students residing in campus as Honourable Education Minister
decided to expand this platform further,” said Mahadevan. Shri Dharmendra Pradhan Ji, Inaugurated the Boys hostel building
The company has deployed close to `1,000 crore and the on 10 July 2022.
th
balance of `240 crore will also be deployed in Pune, where it is The Indian Institute of Science Education and Research
in advance talks for an acquisition. Berhampur, established by the Ministry of Human Resource
Funds from this platform are used only for land acquisition and Development, Government of India is a centre of excellence
construction, and have been backed up by either construction dedicated to teaching and research in basic sciences. IISER
finance, which it has raised, or by the customer advances the Berhampur aims to be a University of the highest calibre devoted
company receives. to both high quality teaching and state-of-the-art research. IISER
“Our topmost priority will be Delhi-NCR. We would like to expand plans to develop advanced teaching and research laboratories
in the region because our first project on the Dwarka Expressway where students will have the opportunity to perform experiments
has been a super success,” said Mahadevan. “The expansion as well as pursue advanced research under the mentorship of
in the NCR will be followed by Mumbai and Bengaluru. We are world-class faculty.
already heavily invested in Pune and, though it still remains in The campus has an academic building, auditorium, residential
focus, it will be relatively less after the next acquisition.” quarters for teaching and non teaching staff, hostel for
In NCR, the platform is looking at Gurgaon and Noida to expand students, sport facilities, commercial centre etc. The buildings
and is open to opportunistic places like Faridabad, or the are constructed to withstand high cyclonic wind speeds as
outskirts of Delhi. the campus is in a cyclone prone area. Central Public Works
“We intend to close at least two transactions in Delhi by the end Department (CPWD) awarded the 694 Crore construction work
of the year. We are scouting for land in Mumbai and evaluating (under Central Education ministry) to NKG Infrastructure Ltd.
a few options,” Mahadevan said. “We are certainly looking at NKG Infrastructure Limited, a New Delhi Based firm which has
Bengaluru, as it is the market we would like to be present.” over 33 years’ experience in construction of roads, airport

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