Page 29 - Construction_Opportunities_June_2026

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CONSTRUCTION

SANJAY GHODAWAT GROUP PARTNERS WITH NORDSTAR uniquely equipped to address the needs of India’s evolving urban
ESTATES; TARGETS A GDV OF OVER INR 5,000 CRORES IN landscape.”
NEXT 3 YEARS Sharab Reddy, Co-Founder, Nordstar Estates, said, “Our
Sanjay Ghodawat Group (SGG), a diversified conglomerate, has approach starts with disciplined land acquisition and rigorous
partnered with Nordstar Estates (Nordstar) to launch “NEVORA”, a underwriting – the foundation for every
next-generation institutional real estate development platform, project we take on. Partnering with SGG
marking its strategic expansion into India’s real estate sector. The gives us the scale and local depth to
joint venture will focus on developing residential and commercial bring that discipline to two of India’s most
projects across Mumbai and Bengaluru and their respective dynamic markets, Mumbai and Bengaluru.
micro-markets and plans to achieve a GDV of over INR 5,000 Our goal is to create communities with
crores in the next few years. wNEVORA brings together SGG’s identity and assets that endure well beyond
diverse operational capabilities and strong financial expertise possession.”
spanning Aviation, FMCG, Education, Energy, Retail and Real Ghodawat Nordstar Pvt. Ltd. is targeting premium apartments
Estate, with Nordstar’s proven track record in institutional capital and commercial assets across Mumbai’s key micro-markets,
management and large-scale real estate development across from established addresses in South and Central Mumbai to high-
India and the United States. The JV has been established to tap demand corridors in the Western and Central Suburbs, as well
into India’s evolving real estate market, where institutional capital, as emerging lifestyle destinations including Alibaug, Karjat, and
technology adoption, and higher governance standards are Vasai. In Bengaluru, the JV will target the city’s established and
redefining the sector. The move comes as the country’s real estate emerging tech-corridor addresses, building on Nordstar’s existing
market is projected to expand nearly nine-fold from USD 650 billion execution footprint in the market. These regions are witnessing
in 2025 to USD 5.8 trillion by 2047, according to a FICCI-KPMG strong absorption rates and surging demand for quality residential
report. The partners will focus on delivering developments that and commercial spaces. The JV draws on SGG’s and Nordstar’s
emphasize quality, transparency, and sustainability. The JV will combined track record of institutional-grade developments across
market its projects under NEVORA, a dedicated consumer-facing Mumbai, Pune, Bengaluru, and Kolhapur.
brand identity to be unveiled in the coming months.
Shrenik Ghodawat, Managing Director, Sanjay Ghodawat BRIGADE HOTEL VENTURES ANNOUNCES `1,100-CRORE
Group, said, “India’s real estate sector is at an inflection point. INVESTMENT FOR THREE CHENNAI HOTELS.
Buyers today demand more than just Brigade Hotel Ventures Ltd. (BHVL) is set to strengthen its footprint in
location; they expect quality, transparency, Chennai with an investment of around `1,100 crore as part of its
and a seamless experience from enquiry next phase of growth, highlighting the city’s strategic importance
to handover. Through this partnership, we in the company’s South India expansion plans. According to the
are committed to delivering assets that are company’s FY26 annual report, BHVL plans to add three new hotels
not just built to last but crafted to elevate in Chennai over the next few years. The expansion will begin with
urban living. Our focus on responsible the launch of the Courtyard by Marriott Chennai World Trade
development, energy efficiency, and technology-driven solutions Centre, followed by the luxury JW Marriott Chennai OMR and
reflects our vision for the future of Indian real estate.” Grand Hyatt Chennai ECR, both slated for completion by 2029-30.
Dhruv Dua, Co-Founder, Nordstar Estates, said, “This platform The company currently operates the 202-
is built on the principles of strong financial key Holiday Inn Chennai OMR IT Expressway.
discipline, development excellence, Vineet Verma, Director, BHVL, said Chennai
and a customer-centric approach. By will account for approximately `1,100 crore
bringing together proven expertise in land of the company’s planned `3,600-crore
acquisition and society redevelopment, investment to expand its hotel portfolio over
institutional capital deployment, and large- the next three to four years, underscoring
scale development management, we are the city’s growing role in its long-term growth strategy.

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