Century Real Estate is targeting ₹3,000 crore in sales in the current financial year, driven by robust demand for plotted developments and luxury housing, particularly in North Bengaluru, said Maninder Chhabra, Director - Sales, Marketing and CRM at Century Real Estate.

The Bengaluru-focused developer has already crossed ₹2,000 crore in sales in the first nine months of the year, compared with ₹1,800 crore in the previous fiscal, and expects Q4 to be its strongest quarter on the back of multiple new launches.

“We are entering the final quarter with five new launches and projects with a combined gross development value of around ₹5,700 crore. Even if we clock a modest 15–18% absorption, we should comfortably achieve our ₹3,000-crore sales target,” Chhabra said in an interaction with Fortune India.

Established in 1973 in Bengaluru by P Dayananda Pai and P Satish, Century Real Estate initially focused on land aggregation before transitioning into full-scale property development. Over the decades, the company has played a significant role in shaping Bengaluru’s residential, commercial and plotted real estate landscape.

Century today owns over 3,000 acres of land, much of it acquired decades ago at historical prices—a key competitive advantage as land acquisition becomes increasingly challenging.

“That legacy land bank is our biggest strength. It allows us to create world-class developments while still offering strong value to customers, at a time when clean, large land parcels are extremely difficult to acquire,” Chhabra said.

North Bengaluru and integrated developments

The company’s growth strategy is anchored around North Bengaluru, which is emerging as a key residential and commercial corridor due to its proximity to the airport and improving infrastructure.

One of Century’s flagship projects is Century OneWorld, a 135-acre integrated township on Airport Road comprising residential, commercial, retail and education components. The first phase of plotted development was sold out within months, generating ₹650 crore in sales, with prices rising from around ₹11,000 per sq. ft. to ₹14,000 per sq. ft.

“The response to OneWorld validates our belief that buyers want integrated ecosystems where they can live, work and study with minimal travel,” Chhabra said. Apartments and commercial developments at the project will be launched in subsequent phases.

Century is also planning another large mixed-use development near the airport, spread over 55 acres, which will include significant commercial and residential components.

Luxury housing gains momentum

Century is increasingly focusing on luxury housing, buoyed by rising demand from end-users, startup founders and business owners. Its premium project, Century Regalia, located in a prime golf-facing micro-market, has seen strong traction.

“Prices at Regalia have appreciated by nearly 40% within a year. We are seeing buyers willing to pay a premium for location, product quality and certainty of delivery,” Chhabra said.

He added that Bengaluru, traditionally seen as a mid-priced housing market, is witnessing a clear shift at the top end. “In prime micro-markets, buyers are now comfortable paying ₹40,000–₹50,000 per sq. ft. for the right luxury product.”

The company plans to launch at least five luxury projects over the next 12 months, leveraging its prime land holdings in central Bengaluru.

Century Real Estate remains well capitalised, having raised significant funding in recent years. Following earlier investments from Ares and SC Lowy, the company has raised another ₹1,000 crore over the past year, taking total recent fundraising beyond ₹2,000 crore.

“Our current projects and pipeline together have a gross development value of about ₹14,000 crore. We are well funded for ongoing projects as well as upcoming launches,” Chhabra said.

Market outlook

Chhabra noted that Bengaluru continues to be largely end-user-driven, unlike Mumbai and Delhi, where investor participation is higher. Post-pandemic, buyer preferences have shifted decisively towards larger homes, with 3-BHK units seeing stronger demand.

“There is clear consolidation underway in the sector. Strong brands with execution capability and clean land titles are gaining market share, while smaller players are finding it harder to compete,” he said.

IPO not an immediate priority

While several real estate developers have listed in recent years, Century Real Estate has no immediate IPO plans.

“We are sufficiently capitalised and asset-rich. Our focus right now is growth and execution. An IPO may be considered three to four years down the line, but the immediate goal is to become one of the top three developers in Bengaluru,” Chhabra said.