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Sowparnika Projects is in advanced discussions to raise INR 500 crore to fund its expansion across South India, with plans to develop around 5.5 million sq ft over the next 18-24 months. The Bengaluru-based developer is targeting a near doubling of its revenue from around INR 850 crore to INR 1,500 crore by FY27. The capital raise is expected to be backed by institutional investors and will support growth across key markets including Bengaluru, Kerala and Tamil Nadu. The company operates in the mid and upper-mid residential segments, with a significant share of demand coming from first-time homebuyers.
Sowparnika Projects is in advanced stages of raising INR 500 crore to fund its expansion plans and scale its residential development pipeline across South India, as the Bengaluru-based developer looks to increase its project portfolio and revenue over the next two years. Advertisement
The proposed fundraise, being pursued in the past week, is expected to support the development of approximately 5.5 million sq ft of residential projects across key markets including Bengaluru, Kerala and Tamil Nadu. The company is currently engaged in discussions with multiple institutional investors and alternative asset managers to close the funding round.
According to company officials, the capital infusion will be deployed to accelerate project execution and expand into new micro-markets, while also strengthening its presence in existing locations such as the outskirts of Bengaluru, including areas like Sarjapur and Hoskote. The developer is also evaluating expansion into additional markets such as Hyderabad and Visakhapatnam as part of its growth strategy.
Sowparnika Projects currently operates in the mid and upper-mid residential segments, with typical unit pricing ranging between INR 75 lakh and INR 1.5 crore. A significant proportion of its customer base comprises first-time homebuyers, indicating demand from end-users rather than investors.
The company reported revenues of around INR 850 crore in 2025 and is targeting a substantial increase to approximately INR 1,500 crore by FY27, effectively aiming to double its topline within a two-year period. This growth is expected to be driven by the planned expansion of its development pipeline and faster project deliveries.
Managing director Ramji Subramaniam indicated that the company has already secured land parcels for upcoming developments, which are expected to contribute to revenue growth as projects progress. He added that the company is also exploring partial exits from certain earlier investments as part of capital recycling and portfolio optimisation.
In addition to the proposed equity raise, the company has previously secured debt funding of approximately INR 340 crore from lenders and investors, including Blacksoil, Kerala Financial Corporation, ASK and Aditya Birla Capital.
The planned fundraise reflects continued investor interest in mid-income housing projects in South India, where demand remains supported by end-users and steady urban expansion. Developers are increasingly raising structured capital to scale operations, expand into new markets and accelerate delivery timelines amid competitive pressures in the residential segment.
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