Sowparnika Projects Aims to Raise Rs 500 Crore for Expansion
Sowparnika Projects, a real estate firm with a growing presence across South India, is in advanced stages of raising Rs 500 crore to fund its expansion drive and scale its project portfolio over the next 18 to 24 months.
Key Expansion Plans
- Development of 5.5 million sq ft across South India over the next two years
- Targeting a close at the Rs 500 crore mark with funds including Neo Alternative Asset Managers, WSB Real Estate Partners and ASK
- Expansion into new markets, including Kerala, Tamil Nadu, and the outskirts of Hyderabad, including Visakhapatnam
- Development of mid and upper-mid residential market
Revenue Targets
Sowparnika Projects clocked revenues of around Rs 850 crore in 2025 and is targeting a sharp jump to take turnover to Rs 1,500 crore by FY2026-27, effectively doubling its top line within two years.
Geographic Presence
The company operates at a Rs 75 lakh to Rs 1.5 crore price point and competes in the mid and upper-mid residential market. "60 to 70 percent of customers are first-time home buyers," said Ramji Subramaniam, Managing Director, Sowparnika Projects.
Current Debt and Funding
The firm has raised debt of approximately Rs 340 crore, with exposure from Blacksoil, Kerala Financial Corporation, ASK and Aditya Birla Capital.
"We are selectively looking at newer markets and also giving partial exits to some earlier investments," said Subramaniam.
Real Estate Market Trends
Sowparnika Projects operates in the mid and upper-mid residential market and competes at a price point of Rs 75 lakh to Rs 1.5 crore.
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