Shapoorji Pallonji's Housing Platform Joyville to Build 750 Apartments

Shapoorji Pallonji's housing platform Joyville will invest around Rs 300 crore to develop new phases, comprising around 750 flats, at its three residential projects in Pune, Mumbai and Kolkata to encash rise in demand. Joyville, which is a Rs 1,240-crore platform established by business conglomerate Shapoorji Pallonji, ADB, IFC and Actis, has so far launched six housing projects -- three in Pune and one each in Mumbai, Kolkata and Gurugram. The company will launch new phases across its three projects -- Joyville Hadapsar (East Pune), Joyville Virar (Near Mumbai) and Joyville Howrah (Near Kolkata). The total investment would be around Rs 300 crore and the expected total sales realisation is of around Rs 400 crore. Joyville had sold properties worth Rs 160 crore in the corresponding period of last fiscal and had sold properties worth around Rs 1,100 crore in the last financial year, double from the previous year, despite the COVID-19 pandemic. Sales have been good in all the four cities where the company has a presence, but all the three projects in Pune have performed exceedingly well. The company hopes to maintain the momentum.