Indiabulls Signs ₹3,700 Crore Dwarka Expressway Project
Indiabulls will develop a 10.84-acre residential project on Dwarka Expressway with a ₹3,700 crore GDV, adding to its development pipeline without acquiring the land.
Indiabulls has signed an agreement with a private landlord to develop a residential project spread across 10.84 acres on Gurugram's Dwarka Expressway. The project has an estimated saleable area of 21 lakh sq ft and a Gross Development Value of around ₹3,700 crore.
Indiabulls Ltd, formerly known as Yaari Digital Integrated Services, has entered into a development management agreement with a private landlord for a residential project on the Dwarka Expressway in Gurugram. The project is expected to be launched by mid-October 2026, ahead of the festive season.
The development is expected to strengthen the company's launch pipeline and provide revenue visibility through the planned launch and potential price realisation in the Dwarka Expressway market.
What are the key details of the Indiabulls project?
The residential project covers approximately 10.84 acres and has an estimated saleable area of 21 lakh sq ft. Its Gross Development Value is around ₹3,700 crore.
Key project details include:
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Location: Dwarka Expressway, Gurugram
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Project area: About 10.84 acres
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Saleable area: Around 21 lakh sq ft
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Gross Development Value: Around ₹3,700 crore
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Expected launch: Mid-October 2026
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RERA status: Phases 1 and 3 registered
The planned launch comes ahead of the festive season, when the company expects to tap residential demand.
How does the project expand Indiabulls' realty portfolio?
The addition of the Gurugram project takes the total GDV of all Indiabulls projects to ₹27,308 crore.
The new development also adds around 21 lakh sq ft of saleable area and approximately ₹3,700 crore in GDV to the company's pipeline of projects under development.
Indiabulls expects the project to provide revenue visibility through the planned launch and potential price realisation in the Dwarka Expressway market.
What is the development management model?
The project is being developed through a Development Management arrangement with the private landlord. Under this structure, Indiabulls can use its development, execution, branding, sales and marketing capabilities without acquiring the underlying land.
The company said the model allows it to expand its real estate project pipeline while maintaining financial flexibility and generating development fee income.
Indiabulls also sees the project as a potential template for pursuing similar landlord-partnered development opportunities across the National Capital Region, Mumbai Metropolitan Region and other Tier-1 cities.
How did Indiabulls shares react?
Indiabulls shares touched a day's high of ₹27.36 on Wednesday following the project update. By 1:22 pm, the shares were trading at ₹26.97.
As per the shareholder pattern provided by the company, Foreign Institutional Investors raised their stake in Indiabulls from 17% in March 2026 to 17.08% in June 2026.
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Conclusion: What does this mean for investors?
The ₹3,700 crore Gurugram project expands Indiabulls' development pipeline and takes the total GDV of its projects to ₹27,308 crore. The Development Management model allows the company to pursue the project without acquiring the land, while the planned mid-October launch provides a near-term milestone for investors to track.
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