Piramal Realty Explained

Piramal Realty
Type:	Private
Industry:	Real estate, Construction
Founded:	in Mumbai, India
Founder:	Anand Piramal (Executive Director)
Hq Location City:	Mumbai
Hq Location Country:	India
Key People:	Abhijeet Maheshwari (CEO)
Services:	Development of luxury commercial and residential properties
Parent:	Piramal Group

Piramal Realty is an Indian real estate company, founded in 2012 is a part of Piramal Group, headquartered in Mumbai, India. The company is engaged in developing luxury residential and commercial properties and is currently developing projects estimated to cover 15 million square feet. Among its notable projects include Piramal Aranya, Piramal Mahalaxmi, Piramal Revanta, Piramal Vaikunth and Piramal Agastya.^[1]

History

The company was founded in 2012 as a real estate arm of Piramal Group led by Ajay Piramal.^{[1] [2]}

In July 2015, Piramal Realty raised $234 million from private equity firms Warburg Pincus and Goldman Sachs, making it one of the largest investment in India's real estate sector.^{[3] [4]}

The company has made several high-value land acquisitions in India. In April 2012, it acquired a sea-facing property from Hindustan Unilever Limited in Worli, Mumbai, for 452 crore.^{[5] [6]} In June 2011, Piramal Realty acquired a 7-acre plot in Byculla from Mafatlal Industries for 605.80 crores,^[7] however, Business Today reports it to be 753 crores.^[8] It purchased 3.2 acres of land parcel in Mulund from rival Nirmal Lifestyles for 153 crores in 2017.^[9]

Awards and recognition

Year	Award(s)	Project	Awarding organisation	Result	Notes
2017	Hurun Real Estate Unicorn of the Year				^[10]
2017	Mercer NDTV Employer Excellence Awards				^[11]
2018	HT Mumbai Real Estate Awards		Hindustan Times		^[12]
2022	Luxury Project of the Year Award	Piramal Mahalaxmi	Realty+ Conclave & Excellence Awards		^[13]
2022	Iconic Project of the Year Award	Piramal Mahalaxmi	The Economic Times ET Real Estate Conclave Awards		^[14]
2024	Excellence in Marketed Project	Piramal Revanta	Times Real Estate Conclave Awards 2023-24		^[15]

Notes and References

1. News: Panchal . Salil . Land of plenty: The Piramals' three-pronged realty strategy . . 6 April 2018.
2. News: Jaykumar . PB . From chasing dreams to 'realty', the scion's journey as a businessman . . 7 May 2018.
3. News: Rai . Saritha . Warburg Pincus Invests In Piramal Realty, Biggest Deal In India's Real Estate Sector . . 22 July 2015.
4. News: Menon . Bindu D . Goldman Sachs picks stake in Piramal Realty for ₹900 crore . . 17 August 2015.
5. News: Piramal Realty buys HUL's sea-facing property in Mumbai 'Gulita' for Rs 452.5 cr . . 5 April 2012.
6. News: HUL sells leasehold rights of Mumbai property . . 4 April 2012.
7. News: Babar . Kailash . Mafatlal Industries sells 7-acre Mumbai land to Piramal Realty for Rs 605 crore . . 18 June 2011.
8. News: Jayakumar . PB . Piramal's big bet . . 13 August 2017.
9. News: Unnikrishnan . C H . Piramal Realty Buys Nirmal Lifestyle Land For Rs 153 Crore In Mulund . . 30 October 2017.
10. News: Anand Piramal Conferred with Hurun Real Estate Unicorn of the Year 2017 . Construction and Architecture . 9 February 2018.
11. News: Excellence in Work-Life Balance . . 2017.
12. News: Piramal Aranya awarded Ultimate Residential Project - South Mumbai 2018 . Zricks.com . 30 October 2018.
13. News: Realty+ Conclave & Excellence Awards 2020 . Realty Plus . 10 November 2020.
14. News: Winners list . . 11 March 2022.
15. News: Winners list . Realty Plus . 22 April 2024.