The addition by the conglomerate will be in existing properties, increasing its portfolio by around two million square foot next year.
This comes at a time when most other big developers are going slowly on commercial properties.
The group, headed by billionaire Pallonji Shapoorji Mistry, is into construction, textiles, power and engineering, among other segments.
The real estate arm of the 148-year-old group will further develop commercial space in its existing projects at Chennai, Pune and Mohali.
Shapoorji Pallonji operates information technology parks under the SP Infocity brand in IT and IT-enabled services at software technology parks and Special Economic Zones. It has IT parks and SEZs in Chennai, Gurgaon, Manesar, Mohali, Nagpur and Pune, with 4.6 million sq ft of space.
“We got into development of IT space in a significant way in 2005-06 but due to the global downturn, which significantly affected demand requirements of IT and other companies, faced a setback in 2008 and had to scale back plans.
"Post 2011, we are seeing a revival of demand in our projects.
"We continuously assess the market and potential clients and then take market-based decisions in adding space to our ongoing projects,” said Kekoo Colah, chief executive of Shapoorji Pallonji Real Estate.
Consultants said Shapoorji Pallonji was among the few entities adding to commercial properties. “Most
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