Concorde Aims for ₹650 Cr Sales in FY27 with New Investments

Concorde, a prominent Bengaluru-based real estate developer, has announced a robust growth roadmap for the financial year 2026-27 (FY27), targeting a 10-12% increase in sales to reach ₹650 crore. This follows a steady performance in FY26, where the company recorded sales of approximately ₹450 crore and recognised revenue in the range of ₹395 - 400 crore. While the firm had initially targeted ₹525 crore for the previous year, two major launches were deferred to FY27 due to regulatory approval delays, which are now expected to significantly bolster current-year figures.

Strategic Investment and Project Pipeline

To fuel its expansion, Concorde plans to deploy approximately ₹200 crore in FY27 toward new projects across Bengaluru. The developer intends to launch between 1.5 and 2 million square feet of new area during this period. The project mix will be balanced between traditional Joint Development Agreements (JDAs) and outright land acquisitions. The firm has recently increased its budget for outright purchases to ₹150–160 crore, up from previous levels of ₹80 - 90 crore, citing a sharp rise in land prices in key micro-markets like Hennur, where rates have surged to nearly ₹35 crore per acre.

Recent Completion Successes

The company maintains a high rate of project delivery, having successfully handed over two major developments in FY26:

• Concorde Auriga: An integrated apartment project spanning 7 lakh sq ft with 501 residential units, where both sales and handovers are now complete.
• Malur Plotted Development: A 24-acre project in East Bengaluru featuring approximately 200 plots, which has been fully transitioned to owners.
• Upcoming Delivery: The Concorde Eleve apartment project and a 16-acre plotted development in North Bengaluru are currently under construction, with the latter expected to reach completion by the end of FY28.

Focus on the Mid-Segment Market

Concorde’s strategy remains firmly anchored in the mid-segment housing category, specifically targeting units priced between ₹1.5 crore and ₹2.5 crore. The firm identifies land parcels of three to five acres as its operational "sweet spot," allowing for the creation of 5-6 lakh sq ft projects that align with their core competencies. By focusing on this high-demand price bracket, the developer aims to capture the interest of salaried professionals and first-time luxury buyers who prioritise functional excellence and modern amenities.

Market Shift and Landowner Preferences

A notable shift in Concorde’s strategy is the increasing reliance on outright land purchases over asset-light JDAs. Management observes that approximately 60-70% of landowners now prefer outright sales, influenced by large-scale developers with deep balance sheets. While JDAs remain a core part of the business, outright transactions allow for better margins and faster revenue recognition. Furthermore, the firm recently leased 1.4 lakh sq ft of office space to BHIVE Workspaces in Bengaluru, highlighting its continued commitment to generating diversified income through commercial asset management alongside its residential focus.

Enjoyed this update? Visit PropTech Pulse for more real estate news and market insights.