Bhumika Realty to invest Rs 450 crore in Faridabad land by March 2027

Bhumika Realty plans to invest Rs 450 crore, or 4.5 billion rupees, in Faridabad land acquisition by March 2027, The Economic Times reported Oct. 15.

The planned outlay would follow Rs 550 crore, or 5.5 billion rupees, of investment in the city over the past 12 months and push the Bhumika Group real-estate arm’s cumulative Faridabad land investment beyond Rs 1,000 crore, or 10 billion rupees.

The company is building a broader portfolio in residential, plotted and mixed-use property. It has opened a 15,000 sq. ft.

Experience Centre at ICON, its mixed-use project on Delhi–Mathura Road, including a sample apartment.

Bhumika Realty has acquired land in several Faridabad sectors. Its plotted development in Sector 114 has received a development licence and is awaiting RERA registration, the project registration process under India’s real-estate regulatory framework.

“Our investments reflect our long-term confidence in Faridabad’s growth potential. With over Rs 550 crore invested in the past 12 months, we expect our cumulative land investment in the city to exceed Rs 1,000 crore by March 2027. We remain focused on building a diversified real estate portfolio through institutional partnerships and disciplined execution,” Uddhav Poddar, chairman and managing director of Bhumika Group, said.

The expansion is backed by institutional capital arrangements, including Rs 170 crore of funding with BGO for ICON and a Rs 500 crore platform with Blackstone-backed ASK Property Fund for plotted-development opportunities. An initial Rs 125 crore has been deployed in Faridabad.

ICON has secured about 100,000 sq. ft. of retail leasing, with tenants or brands including Lifestyle, PVR INOX, Samsung and an Apple reseller.

The company’s stated investment case rests partly on Faridabad’s improving links with the wider National Capital Region and continuing infrastructure development.

Source: news report, The Economic Times, Oct. 15