Bansal Family Announces ₹10,000 Crore FY27 Investment Plan Through M3M India and Smartworld Developers

Bansal Family Announces ₹10,000 Crore FY27 Investment Plan Through M3M India and Smartworld Developers The Bansal Family has announced an investment roadmap of approximately ₹10,000 crore for FY27 through its real estate platforms, M3M India and Smartworld Developers. The planned investment will be directed towards construction activity and strategic land acquisitions, supporting the group’s continued expansion across the National Capital Region. The investment plan comes as the family strengthens its presence across luxury and premium housing, branded residences, retail, office and emerging commercial developments. The group has stated that the capital deployment will support both ongoing execution and future growth opportunities. Through M3M India and Smartworld Developers, the Bansal Family has built a real estate portfolio with a Gross Development Value of more than ₹1.28 lakh crore. It also holds a fully paid land bank of over 3,000 acres across NCR, of which around 26% has been utilised so far, leaving a substantial pipeline for future development. The group has delivered more than 30.6 million sq. ft. across 34 projects, including over 14,000 homes. It currently has 40 ongoing projects under development, covering approximately 57.2 million sq. ft., and plans to deliver another 1,000 homes over the next three months. The companies have also expanded beyond residential development. The Bansal Family says it has developed over 11.2 million sq. ft. of retail space, positioning it among North India’s largest retail developers. In Noida, M3M has added M3M The Cullinan Emporium, a nearly one-million-sq.-ft. premium retail development. Luxury and branded residences are expected to remain an important part of the future portfolio. The family’s branded-residences pipeline spans nearly 6.9 million sq. ft. and includes partnerships with global names such as The Trump Organization, ELIE SAAB and Jacob & Co. According to the group, this segment has revenue potential of over ₹20,000 crore. Its latest ultra-luxury initiative, The Billionaire’s Block at Smart City Delhi Airport in Sector 111, Gurugram, is being positioned as an integrated luxury district. The development includes M3M Residences by ELIE SAAB and forms part of a wider ₹3,500 crore investment in ELIE SAAB-branded residential projects. The ₹10,000 crore FY27 plan signals continued confidence in NCR’s residential, retail and luxury real estate markets, while giving M3M India and Smartworld Developers greater scope to add land, accelerate construction and expand their next phase of development. Economic Times Disclaimer: This article is published for informational and editorial purposes only. Views expressed may not reflect those of ISEE Papers. We do not guarantee accuracy or completeness. For full details, please read our complete disclaimer here: ISEE Papers Website Disclaimer

Bhutani Infra Sets Out Vision to Transform Noida’s Entertainment City

NCLT Order Brings Legal Clarity as Bhutani Infra Maps Revival of Noida’s Entertainment City The proposed redevelopment could reposition the 147.48-acre property as a major mixed-use destination combining entertainment, retail, hospitality and commercial development. A long-running ownership dispute surrounding Noida’s Entertainment City has moved closer to resolution following an order from the National Company Law Tribunal. The order provides Bhutani Infra with greater legal clarity as it begins mapping the proposed revival of the approximately 147.48-acre destination. The company envisions a comprehensive mixed-use development bringing together entertainment, experiential retail, hospitality, cultural venues and commercial spaces. Entertainment City is already home to some of Noida’s most recognisable leisure and retail assets, including The Great India Place Mall, Gardens Galleria Mall, Worlds of Wonder Theme Park, WOW Water Park and KidZania. The property also contains hotels, retail areas and other leisure attractions. What the NCLT Order Covers The NCLT’s New Delhi Bench directed Entertainment City Limited to register shares transferred by minority shareholders IIRF Holdings V Limited and Vistra ITCL (India) Limited to Parmesh Construction Company Limited. Parmesh Construction Company Limited is part of the Bhutani Infra Group. The transfer represents a combined 4.26 per cent equity stake, comprising 3.70 per cent from IIRF Holdings and 0.56 per cent from Vistra ITCL. The transfer had been opposed by Unitech Holding Limited over provisions related to its right of first refusal and other shareholder-agreement requirements. The tribunal ruled that the share transfer could not be refused and directed Entertainment City Limited to enter Parmesh Construction Company’s name in its Register of Members. The order has consequently removed an important legal obstacle affecting the property. ETLegalWorld Importantly, the order concerns the registration of the 4.26 per cent share transfer. It should not be interpreted as a separate regulatory approval for the entire proposed redevelopment. A New Vision for Entertainment City Bhutani Infra is now considering a large-scale redevelopment programme intended to restore Entertainment City’s position as a leading leisure and lifestyle destination in Delhi-NCR. The proposed roadmap could include the modernisation of existing infrastructure, expansion of Worlds of Wonder, development of new theme parks and creation of experiential retail zones. Premium hotels, hospitality facilities, public plazas, cultural centres and event venues are also among the components being considered. Smart and sustainable technologies are expected to be integrated into the wider development plan. If implemented, the redevelopment would shift Entertainment City from a collection of individual attractions into a more integrated urban destination where visitors can shop, work, stay, attend events and access entertainment within one connected environment. Financial Express Collaboration Will Remain Important Bhutani Group has acknowledged the role played by Unitech and other stakeholders in the development of Entertainment City and has expressed its intention to pursue the revival through collaboration. Ashish Bhutani, CEO of Bhutani Infra, described the NCLT order as an important step towards dialogue, cooperation and long-term value creation. With a shared vision among stakeholders, the company believes Entertainment City could be repositioned as one of India’s leading entertainment, tourism and lifestyle destinations. The proposed redevelopment could also help the property respond to changing consumer expectations. Modern mixed-use destinations are increasingly being designed around experiences rather than conventional retail alone, combining dining, hospitality, entertainment, public spaces and cultural programming. What the Redevelopment Could Mean for Noida Entertainment City occupies a significant location within one of India’s fastest-growing real estate markets. Reviving a property of this scale could strengthen Noida’s appeal as a regional destination for entertainment, tourism, retail and business. The redevelopment has the potential to attract national and international entertainment and hospitality operators, support employment and encourage further investment in the surrounding area. It could also provide new opportunities for architects, consultants, contractors, building-technology companies and infrastructure providers. For the elevator and escalator industry, a mixed-use redevelopment of this scale could create demand for high-capacity passenger movement, accessible vertical mobility, destination-control systems, escalators, service lifts and digitally connected maintenance solutions. The final opportunity will, however, depend on the approved master plan and execution programme. The Road Ahead The NCLT order represents legal progress, but the transformation of Entertainment City will depend on stakeholder alignment, statutory approvals, detailed planning and phased execution. Bhutani Infra has yet to release the final redevelopment master plan, construction schedule or confirmed investment structure. The currently discussed components should therefore be treated as part of a proposed vision rather than a final approved development programme. Even so, the legal clarity surrounding the share transfer marks a meaningful step towards unlocking the potential of one of Noida’s largest mixed-use properties. If the proposed revival moves forward, Entertainment City could emerge as a renewed urban destination and play an important role in the next phase of Noida’s commercial, hospitality and entertainment growth. Moneycontrol Accuracy note: Bhutani Group’s official management page identifies Ashish Bhutani as CEO, Bhutani Group, not Founder and CEO. I recommend using “Ashish Bhutani, CEO, Bhutani Infra” in the published creative. Bhutani Group   Disclaimer: This article is published for informational and editorial purposes only. Views expressed may not reflect those of ISEE Papers. We do not guarantee accuracy or completeness. For full details, please read our complete disclaimer here: ISEE Papers Website Disclaimer

FY26 Pre-Sales Show India’s Listed Real Estate Developers Are Entering a Scale Phase

FY26 Pre-Sales Show India’s Listed Real Estate Developers Are Entering a Scale Phase FY26 has closed on a strong note for India’s listed real estate developers. Despite higher borrowing costs, global uncertainty and a cautious economic environment, the country’s residential real estate market has continued to show remarkable strength. The latest pre-sales numbers underline one clear trend: India’s organised real estate players are not merely surviving market cycles. They are scaling faster, consolidating demand and strengthening their position across key housing markets. According to data from ANAROCK Research & Advisory and RealtyNXT, Godrej Properties led the FY26 pre-sales leaderboard with ₹34,171 crore, followed by Prestige Estates at ₹30,024 crore. Lodha recorded ₹20,530 crore, DLF stood at ₹20,143 crore, while Sobha reported ₹8,135 crore. FY26 Pre-Sales Leaderboard Godrej Properties: ₹34,171 crore Prestige Estates: ₹30,024 crore Lodha: ₹20,530 crore DLF: ₹20,143 crore Sobha: ₹8,135 crore Source: ANAROCK Research & Advisory, RealtyNXT Godrej Properties topping the chart is a significant development. However, the larger story is not only about which developer ranked first. The real story lies in what these numbers say about the changing behaviour of the Indian homebuyer. Trust Is Becoming the Biggest Differentiator The Indian homebuyer is becoming more informed, more selective and more cautious about who they buy from. Location, carpet area and pricing still matter, but they are no longer the only deciding factors. Today, buyers are increasingly looking at the strength of the developer behind the project. They want a builder with a strong balance sheet, a clear delivery record, transparent approvals, regulatory discipline and the ability to complete projects on time. This shift is one of the biggest reasons listed and organised developers are pulling ahead. In the past, many buyers were willing to take chances with smaller or lesser-known developers if the price looked attractive. That behaviour is changing. After years of delayed projects, regulatory concerns and financial stress in the sector, buyers are placing a higher premium on credibility. A trusted brand is no longer just a marketing advantage. It has become a business advantage. Premium and Luxury Housing Continue to Drive Demand Another important signal from the FY26 numbers is the strength of demand in premium and luxury housing. Despite higher interest rates and affordability concerns in some segments, demand at the upper end of the residential market has remained strong. This reflects a broader change in urban India. Buyers with higher incomes are upgrading to larger homes, better locations, stronger amenities and more reliable developers. For many families, the home is no longer seen only as a necessity. It is also a lifestyle decision and a long-term asset. This has worked in favour of large listed developers, especially those with access to prime land parcels, established brands and the ability to launch high-value projects in major cities. The Organised Real Estate Gap Is Widening The gap between organised and unorganised developers is no longer a small difference. It is becoming structural. Large listed developers have several advantages. They have better access to capital, stronger execution systems, larger land pipelines, better governance and more confidence among buyers, lenders and institutional investors. This allows them to launch bigger projects, sell faster, raise capital more efficiently and expand across multiple cities. As a result, the Indian real estate market is gradually moving towards consolidation. Smaller developers may still remain relevant in local markets, but the strongest demand pools are increasingly moving towards branded players. Redevelopment and Land-Light Growth Are Changing the Game Beyond pre-sales, another major trend shaping the future of large developers is the shift towards redevelopment and land-light growth models. Instead of locking large amounts of capital upfront into land acquisition, many developers are exploring joint development agreements, society redevelopment and asset-light partnerships. These models allow faster scaling with lower capital intensity. Mumbai is one of the biggest examples of this opportunity. The city’s redevelopment market remains massive, and large developers with execution capability, financial strength and brand trust are well placed to benefit from it. Redevelopment is not just a real estate opportunity. It is also an urban transformation opportunity. Ageing buildings, limited land supply and rising demand for modern housing are creating a strong case for organised players to participate more aggressively in this space. Infrastructure Is Adding Further Momentum India’s residential real estate growth is also being supported by infrastructure development. Metro expansion, expressways, airport connectivity, business districts and urban renewal projects are opening new growth corridors across major cities. Better infrastructure improves accessibility, increases land value and creates new housing demand. For large developers, this means more opportunities to launch projects in emerging micro-markets. For buyers, it creates greater confidence in long-term value appreciation. When infrastructure growth combines with trusted developers and rising urban aspirations, the result is a stronger and more organised housing market. Institutional Capital Is Watching Closely The performance of listed developers is also important from an investor perspective. Strong pre-sales, disciplined execution and improved governance make the sector more attractive to institutional capital. Real estate has always been a capital-intensive business. Developers that can demonstrate consistent sales, strong cash flows and project delivery discipline are likely to attract more investor confidence. This could further strengthen the position of leading listed developers over the next few years. The Bigger Question: Who Will Lead FY30? FY26 has given the industry a clear leaderboard. But the bigger question is not only who sold the most this year. The bigger question is who is building the strongest platform for the next five years. The developers that can combine land access, execution speed, financial discipline, redevelopment capability and buyer trust will be best positioned to dominate FY30 and beyond. Godrej Properties has made a strong statement with its FY26 performance. Prestige Estates continues to show scale. Lodha and DLF remain powerful names in premium markets. Sobha continues to stand for quality and delivery in a highly competitive space. But the next phase of Indian real estate will not be won by sales numbers alone. It will be won by