Prime Group plans to invest around Rs 1,500 crore in Bihar’s real estate market over the next four quarters, marking its entry into the state’s property sector as it builds a sizable development portfolio in the region.
The group is targeting a development pipeline of around 5 million sq ft and will deploy the proposed capital across residential and mixed-use developments in Bihar. The group’s development ecosystem and business associations span markets including Mumbai, Bengaluru, Kolkata and Ranchi, as it now looks to deepen its development footprint in Bihar.
Prime Group currently has a debt free balance sheet, providing the group with financial flexibility as it scales its development pipeline in the state.
The group has onboarded strategic investors from the Middle East, overseas architects and specialist consultants for its upcoming developments. Details of these strategic tie-ups are expected to be announced in due course.
The investment marks the first major phase of Prime Group’s expansion in Bihar, with the company evaluating multiple development opportunities across the state.
“Bihar is entering an important phase of real estate growth, and we see significant opportunity in the market. The Rs 1,500 crore investment marks the beginning of our expansion in the state,” said Apoorva Gaurav, Chairman, Prime Group.
The group plans to scale its development pipeline over the coming quarters, with details of new projects and strategic partnerships expected to be announced progressively.
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