Sowparnika Projects, a prominent real estate developer in South India, is in the final stages of raising ₹500 crore to support its expansion and enhance its project portfolio over the next 18 to 24 months.
“We are negotiating with several funds, including Neo Alternative Asset Managers, WSB Real Estate Partners, and ASK. The company has received approvals for transactions from some of these investors and is aiming to finalize the ₹500 crore target,” stated Ramji Subramaniam, Managing Director of Sowparnika Projects. “In the next two years, we plan to develop 5.5 million sq ft across Bengaluru, Kerala, and Tamil Nadu,” he added.
Sowparnika Projects reported revenues of approximately ₹850 crore in 2025, with a goal to increase this to ₹1,500 crore by FY2026-27, effectively doubling its revenue within two years. “We have already secured and organized land for development, which is set to boost our revenue upon completion,” he mentioned.
The company offers properties priced between ₹75 lakh and ₹1.5 crore and competes in the mid and upper-mid residential segments. “About 60 to 70 percent of our clients are first-time homebuyers,” he added.
Strategically, the firm aims to expand beyond its established locations in areas like Sarjapur and Hoskote, exploring opportunities in Kerala, Tamil Nadu, and outskirts of Hyderabad, including Visakhapatnam. “We are selectively reviewing new markets while also considering partial exits from some earlier investments,” remarked Subramaniam.
The firm has successfully raised approximately ₹340 crore in debt from sources including Blacksoil, Kerala Financial Corporation, ASK, and Aditya Birla Capital.
