Paranjape Schemes targets ₹2,000 crore revenue, plans 2.5 million sq ft launches in H2

Paranjape Schemes expects revenue of around ₹2,000 crore in the current financial year, up from ₹1,500 crore previously, while maintaining blended profit margins of 20-21%. The developer plans to launch about 2.5 million sq ft in H2 and reduce gross debt from ₹1,800 crore to roughly ₹700 crore by De

Paranjape Schemes is targeting revenue of around ₹2,000 crore in the current financial year, compared with approximately ₹1,500 crore in the previous year, while maintaining blended profit margins of around 20-21%, Amit Paranjape, director-business development, told ETRealty.

The developer plans to launch around 2.5 million sq ft during the second half of the financial year, after launching approximately one million sq ft during the first six months. On the delivery front, it expects to complete and hand over about one million sq ft in H2, having delivered around 750 units in the first half.

The company currently has gross debt of around ₹1,800 crore and plans to bring it down to approximately ₹700 crore by December 2027 through project cash flows. It also expects to deploy around ₹300 crore towards construction during the current financial year.

Residential real estate accounts for approximately 95% of its portfolio, with mid-income and upper-mid-income housing accounting for about 75% of revenue. Senior living contributes around 10%, while assisted living currently contributes less than 1%. The company operates 220 assisted-living beds, with occupancy of approximately 95-98% and EBITDA margins of around 29-33%.

Commercial real estate contributes about 5% of the portfolio, with around one million sq ft of Grade-A office space under development in Wakad. Redevelopment accounts for around 5% of its portfolio across Pune and Mumbai, with plans to deliver about half a million sq ft in Mumbai and launch around one million sq ft in Thane during Q3 or Q4.