Bharti Realty To Expand Its Arm In NCR, To Form JVs For Project Development

The real estate arm of Bharti Enterprises, Bharti Realty has decided to expand its presence in the NCR and currently is in talks with many landowners as well as other developers for joint ventures to build new projects worth over Rs 1,000 crore each. The company will develop these projects in Delhi and Gurugram, a top company official informed.

According to Bharti Realty MD and CEO S K Sayal, the company till date has completed around 15 projects, with nearly 5 million sq ft of fully leased Grade-A commercial space, in Delhi-NCR and some other cities. It has almost completed a 7 lakh sq ft office building at Gurugram for whom they will soon start the leasing process.

“We are looking to add new projects in Delhi and Gurugram. We are being approached by landowners and other real estate developers for partnerships. We are actively considering it,” Sayal added.

Giving more information on the same, he further said that the size of the projects would be over Rs 1,000 crore each and the deal could be finalised in next few months.

Bharti realty entered into the real estate market in 2003 and has developed some of the landmark projects including Bharti Crescent, New Delhi; Airtel Centre, Gurgaon, and Worldmark Aerocity, New Delhi in NCR. The group is currently developing another 6 million sq. ft. of residential and commercial real estate space across prominent cities in the country with most of the advanced technologies.

In 2017, the company has also bagged a commercial project from the Delhi International Airport Ltd (DIAL) to develop a 2 lakh sq metres of retail space near the airport. Apart from real estate, the group has also marked its presence in telecom, agri-business, financial services, and retail sector.