Krisumi Corporation, a joint venture between Krishna Group and Japan’s Sumitomo Corporation, is set to invest Rs 2,000 crore in Gurugram to develop 1,051 luxury apartments as part of its expansion strategy amid robust demand for residential properties.
The company is currently executing ‘Krisumi City’, a large luxury township in Sector 36A, Gurugram. The first phase, known as ‘Waterfall Residences’ comprising 433 units, is nearing completion, while the second phase, ‘Waterfall Suites’ with 320 units, is slated for delivery by 2028.
Announcing its plans on Monday, Krisumi revealed that the investment will primarily fund Phase 3 and Phase 4 of its township, which will add 1,051 luxury units to the development. This significant commitment excludes the land acquisition costs.
The project spans a total developable area of 2.3 million square feet, encompassing various amenities. Krisumi also plans to construct a state-of-the-art club over 2 acres with a built-up area of approximately 1,60,000 square feet, representing an additional investment of Rs 350 crore.
Mohit Jain, Managing Director of Krisumi Corporation, emphasized their unique approach to luxury living in Gurugram, focusing on high-end residences tailored to smaller sizes, a distinctive offering in the NCR region. He highlighted Krisumi’s ambition to not just deliver real estate solutions but to offer a 5-star lifestyle experience.
Vineet Nanda, Director Sales and Marketing, expressed confidence in achieving total revenue of Rs 4,000 crore, reflecting current market dynamics favoring larger luxury apartments in the post-pandemic era.
Funding for the project will be sourced from a blend of equity contributions, sales proceeds, and internal accruals. Construction activities commenced recently, with completion scheduled by December 2029.
Yuji Kato, Director and Co-CEO of Krisumi Corporation, underscored the joint venture’s commitment to creating world-class residential spaces in India, buoyed by the success of previous phases and strong market response to their latest launch.
