The company was formed as Paranjape Schemes (Construction) Private Limited in 1987 and later converted into a public company. It is into real estate development with a diversified project portfolio focused on the Pune Metropolitan Region, Mumbai and other cities in western Maharashtra such as Kolhapur, Nashik, Chiplun and Ratnagiri and also in Bengaluru and Vadodara.
The business is run by Shrikant Paranjape and Shashank Paranjape, who have a total of more than 25 years of experience in the real estate industry.
The developments of the company can be broadly classified under residential (townships, redevelopments, affordable, senior citizen homes etc) and non residential (special economic zone, IT park, retail and hospitality projects) segments.
It has so far completed over 200 projects with approximately 15.33 million square feet of developed area comprising of 12.99 million square feet of developed residential area and 2.34 million square feet of developed commercial (i.e. non residential) area.
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The company’s revenue from operations declined from Rs 550.85 crore in FY18 to Rs 353.15 crore for the year ended March 31, 2019. In the same period, its net profit almost halved from Rs 26.68 crore to Rs 14.37 crore.
Like most realtors the company has attracted PE investors such as Indiareit and Ascendas for specific projects. It had also roped in HDFC’s real estate fund as a direct investor in the company in 2007 but had bought back the stake last year.
Residentials projects of Paranjape Schemes
- Athashri Vadodara Vadodara
- Broadway Wakad
- Blue Ridge – 24 & 25 Hinjewadi
- Megh Pushpa Ratnagiri
- Forest Trails Bhugaon
- Paranjape Trident Towers
- The Lofts Hinjawadi
- Happiness Hub Nr. Khed Shivapur
- Azure Tathawade
Commercial projects of Paranjape Schemes
- Xion Hinjawadi, Pune
- Pratham Sadashiv peth, Pune
- Blue Ridge Hinjawadi, Pune
- Forest Trails Bhugoan
- Rajas Garden Model Colony
- Westend Offices Aundh
- Vijay Nagar Shops Andheri (East)