Real estate development firm, Assetz Group plans to double its Bengaluru market share from the current 4% to 8% over the next four years, cumulatively clocking pre-sales of over Rs 30,000 crore from FY26 to FY30 in its design-led township developments. With low leverage and institutional capital partnerships, the company is poised for sustained growth, said Sunil Pareek, Executive Director, Assetz. In an interview with Sobia Khan of ET, he talks about actively acquiring lands, launching projects, and regularly evaluating multiple options of governance and capital structures including public markets. Excerpts…
Assetz Pvt. LTD has been in developing residential spaces in Bengaluru for more than a decade now. How would you describe the journey?
We have focused on design-led and sustainable developments with financial prudence. Over the decade, Assetz has become one of the city’s top five developers, with overall portfolio of 45 million sq.ft. across 25,000 units. About 15 million sq.ft. of residential and commercial space has already been delivered. The company follows a governance-first approach and has built an institutional-style ecosystem designed for long-term growth.
Who are the people and investors behind Assetz?
The company is led by professional stakeholders Akshay Dewani and Sunil Pareek, with Singapore-based AGP Partners also as a key shareholder. Projects are structured through SPVs, ensuring transparency and governance. At the project level, we have a strong capital track-record with investors such as J.P. Morgan, Aditya Birla Capital, Motilal Oswal Alternates and HDFC Ltd, raising and repaying over Rs 1,000 crore.
Land remains the biggest bottleneck in real estate. How has it panned out for Assetz?
We have tied up 550 acres and 45mn sft of pipeline in the last decade. , In the last 2–3 years itself, the acquisition is around 300 acres, which equates to adding 13,000 units and about Rs 29,000 crore in GDV to the portfolio. Around 60% of our portfolio is via JDAs, supported by selective acquisitions and development management.
How do you view sales velocity, margins, and the growth outlook from here?
Pre-sales have grown at ~35% CAGR in the last four years to a Rs 2,200 crore in FY25. We have already booked more than Rs 1,000 crore in Q1 FY26 and target Rs 4,200 crore this year (FY26), moving to a target of ~Rs 6,000 crore in FY27. ASP is expected to rise from Rs 10,000/sq.ft. in FY25 to Rs 11,000+ in FY26 and operating margins stay healthy at 25%-30%. Debt remains low at ~Rs 350 crore (less than 10% of operating surplus of current projects). We plan to launch 9 mn sq.ft. this year and with an added pipeline exceeding 20 mn sq.ft., achieve a 30%+ CAGR ahead.
You often say “Distinct by Design”. What does that mean in practice?
Across micro-markets and target segments, our projects reflects ever evolving human behavior of how families actually live, work, and interact by blending functionality, aesthetics, and quality. The design-led strategy which has now given us a distinct branding, allows us to build differentiated products that remain relevant across demand shifts, target groups and market cycles
Given your scale and momentum, are you considering expanding beyond Bengaluru, entering new segments, or even going public?
Bengaluru remains the core market, with plans to increase share from ~4% to 8–10% over the next 4–5 years. We are expecting cumulative pre-sales of over Rs 30,000 crore from FY26 to FY30. We will selectively evaluate other cities and continue our focus on adjacencies like mixed-use townships. Assetz is IPO-ready in terms of scale and governance, but listing is one of several options under regular consideration with no fixed timeline.
How has Bengaluru’s housing market changed in the last five years, and what do you expect in the next five?
The past five years saw consolidation, RERA-led compliance, stronger platforms attracting capital, COVID-driven shifts, affordability gains and doubling of both market size and prices. Demand has become more end-user driven in the market which is around Rs 1 lakh core in sales today. Over the next five years, we expect larger townships, rising ticket sizes, technology adoption across sales and construction, and integrated communities. The size of Bangalore residential market in value terms is projected to be bigger than today and Assetz with its design led pipeline and brand appeal is well poised to capture a significant share to be among the top 2-3 residential players of the city.
Assetz Pvt. LTD has been in developing residential spaces in Bengaluru for more than a decade now. How would you describe the journey?
We have focused on design-led and sustainable developments with financial prudence. Over the decade, Assetz has become one of the city’s top five developers, with overall portfolio of 45 million sq.ft. across 25,000 units. About 15 million sq.ft. of residential and commercial space has already been delivered. The company follows a governance-first approach and has built an institutional-style ecosystem designed for long-term growth.
Who are the people and investors behind Assetz?
The company is led by professional stakeholders Akshay Dewani and Sunil Pareek, with Singapore-based AGP Partners also as a key shareholder. Projects are structured through SPVs, ensuring transparency and governance. At the project level, we have a strong capital track-record with investors such as J.P. Morgan, Aditya Birla Capital, Motilal Oswal Alternates and HDFC Ltd, raising and repaying over Rs 1,000 crore.
Land remains the biggest bottleneck in real estate. How has it panned out for Assetz?
We have tied up 550 acres and 45mn sft of pipeline in the last decade. , In the last 2–3 years itself, the acquisition is around 300 acres, which equates to adding 13,000 units and about Rs 29,000 crore in GDV to the portfolio. Around 60% of our portfolio is via JDAs, supported by selective acquisitions and development management.
How do you view sales velocity, margins, and the growth outlook from here?
Pre-sales have grown at ~35% CAGR in the last four years to a Rs 2,200 crore in FY25. We have already booked more than Rs 1,000 crore in Q1 FY26 and target Rs 4,200 crore this year (FY26), moving to a target of ~Rs 6,000 crore in FY27. ASP is expected to rise from Rs 10,000/sq.ft. in FY25 to Rs 11,000+ in FY26 and operating margins stay healthy at 25%-30%. Debt remains low at ~Rs 350 crore (less than 10% of operating surplus of current projects). We plan to launch 9 mn sq.ft. this year and with an added pipeline exceeding 20 mn sq.ft., achieve a 30%+ CAGR ahead.
You often say “Distinct by Design”. What does that mean in practice?
Across micro-markets and target segments, our projects reflects ever evolving human behavior of how families actually live, work, and interact by blending functionality, aesthetics, and quality. The design-led strategy which has now given us a distinct branding, allows us to build differentiated products that remain relevant across demand shifts, target groups and market cycles
Given your scale and momentum, are you considering expanding beyond Bengaluru, entering new segments, or even going public?
Bengaluru remains the core market, with plans to increase share from ~4% to 8–10% over the next 4–5 years. We are expecting cumulative pre-sales of over Rs 30,000 crore from FY26 to FY30. We will selectively evaluate other cities and continue our focus on adjacencies like mixed-use townships. Assetz is IPO-ready in terms of scale and governance, but listing is one of several options under regular consideration with no fixed timeline.
How has Bengaluru’s housing market changed in the last five years, and what do you expect in the next five?
The past five years saw consolidation, RERA-led compliance, stronger platforms attracting capital, COVID-driven shifts, affordability gains and doubling of both market size and prices. Demand has become more end-user driven in the market which is around Rs 1 lakh core in sales today. Over the next five years, we expect larger townships, rising ticket sizes, technology adoption across sales and construction, and integrated communities. The size of Bangalore residential market in value terms is projected to be bigger than today and Assetz with its design led pipeline and brand appeal is well poised to capture a significant share to be among the top 2-3 residential players of the city.
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