April 22, 2024: Century Real Estate has successfully closed a funding round with Edelweiss Group, securing Rs 450 crore in investment capital. The company has further announced a sales revenue of Rs 1,000 crore in FY24, registering a 4x growth in a span of four years. Edelweiss Group had also invested with Century Real Estate in the year 2015.
The infusion of Rs 450 crore will primarily be allocated towards the development of a new luxury project in the heart of Bangalore. A part of the funds will also be used towards residential developments named Century Trails and Century Wintersun Phase II. Century has also unlocked a 72-acre land parcel in northern Bangalore for developing a residential project in the vicinity of the international airport at Devanahalli.
Ravindra Pai, managing director at Century Real Estate, said, “It is humbling to see the confidence our partners and customers have bestowed on us that has led us to becoming one of the leading trusted real estate developers of Bengaluru. We are very positive that FY25 will be the biggest ever year as yet for the company, as we look forward to developing multiple luxury and aspirational projects across very prime locations in Bangalore.”
Maninder Chhabra, director, Sales, marketing and CRM, Century Real Estate, said, “The multi-fold growth in our sales revenues over the past few years, and the wonderful response we’ve been getting for our projects has been very encouraging for the company. Our commitment to innovation and thinking ahead at Century, leads us to create new-age products that exceed expectations and resonate with customers of today. With our new launches seeing some of the fastest sellouts in the industry and a minimal inventory overhang of under 5% across our projects now, we are encouraged to bring in many of our very prime land parcels into the market this year.”
Century Real Estate has completed more than 10 million square foot (msf) of residential, commercial and plotted projects across Bangalore, and over 20 msf of residential and commercial projects are currently under various stages of planning and development.
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