Shapoorji Pallonji Group forms Shapoorji Pallonji Real Estate (SPRE)to monetize assets worth around $6 billion, setting the stage for a public listing soon.
SPRE's portfolio includes 45 land parcels in Mumbai, Pune, Bengaluru, Gurugram, and Kolkata, aiming for streamlined operations.
The consolidated portfolio has the potential to generate up to Rs 200,000 crore in revenue after development.
SPRE plans an IPO, offering 10-12% stake, aiming to raise $800-900 million in the first phase.
SPRE aims to enhance value by leveraging scale and fostering growth through consolidated real estate operations.