Gulshan Group intends to invest approximately ₹3,300 crore to develop five projects in the National Capital Region (NCR) during the financial year 2026-27, as it seeks to enhance its presence in both the luxury and mid-income housing sectors.
The company plans to allocate around ₹1,000 crore for the development of a Taj-branded hotel and serviced apartments project in Sector 129, Noida, in collaboration with Indian Hotels Company (IHCL). This development will feature a 150-room luxury hotel and 74 serviced apartments, with unit sizes of approximately 7,500 sq ft. The anticipated price range for the apartments is between ₹35 crore and ₹100 crore.
The project is being constructed on a 10,500 sq meter land parcel that was acquired in 2021 and is projected to be completed within the next four to five years. Gulshan Nagpal, the chairman of the company, stated, “The company anticipates generating around ₹2,000 crore in topline revenue from the serviced apartment segment.
The project will be financed through internal accruals and sales collections, and we are also considering funding options through financial institutions for the overall development.” The company’s foray into branded luxury residences and hospitality-led developments occurs in response to changing demand trends in Noida’s premium housing market.
Deepak Kapoor, the company’s director, mentioned that they have historically concentrated on the luxury segment, including the development of over 250 bungalows in East Delhi, but had transitioned to mid-income housing in Noida earlier due to market demand conditions. “The market has now evolved towards luxury and ultra-luxury housing in Noida, and we are adjusting our offerings accordingly,” he remarked.
He further stated that Noida is presently experiencing a deficiency in quality hospitality and premium residential offerings. “The region has a limited supply of organized hotel accommodations, and demand is anticipated to rise alongside infrastructure development and commercial activities,” he remarked.
In addition to this project, the company intends to initiate four more projects in FY27, comprising three in Noida and one in Ghaziabad, with a total investment of approximately ₹2,300 crore. Of this amount, the Noida projects will represent around ₹1,600 crore, while the Ghaziabad initiative will involve an investment of about ₹700 crore, as informed by Kapoor. Kapoor mentioned that the forthcoming launches will be distributed across various segments, featuring a combination of luxury and mid-income housing developments.
