BCD Group said that it has crossed Rs 1000 crore worth of projects, posting an increase of 30 per cent in the first quarter of FY24 in comparison to the same period last year, for under construction in Bengaluru. Some of the key projects are residential and commercial development from builders including Assetz Group, Salarpuria Sattva, Puravankara and Century Group as Bengaluru continues its bull run in the demand for residential properties.
In the first quarter of FY24, the company received project construction orders worth Rs 300 crore for the civil construction of premium properties across central and secondary business districts. Bengaluru’s residential real estate market has been growing significantly on the back of the city’s robust infrastructure, presence of global companies offering immense employment opportunities and the growing importance of housing as an asset post COVID-19.
According to a report by Jones Lang LaSalle, residential sales in the top seven Indian cities rose to 215,000 units in 2022, a 68 per cent year-on-year growth. Among the cities leading the sales included Bengaluru, Mumbai, Delhi- NCR and others.
“We had already crossed a milestone order book of over Rs 1,000 crore in the first quarter and are quite bullish for the ongoing fiscal. Bengaluru has been one of the fastest-growing residential markets for us. We have several projects in the pipeline in the city and will continue to invest in the market,” said Angad Singh Bedi, Managing Director, BCD Group. With these projects, BCD Group is further expanding its presence in the industry.