Joyville Homes

Joyville Homes (Joyville Shapoorji Housing Private Limited) is an affordable housing brand of Shapoorji Pallonji Group launched on 27 January 2016.[1] Under Joyville brand, Shapoorji Pallonji Group is estimated to build 20 million sq. ft. of residential space over the next 6–7 years across all major cities such as Mumbai, Pune, NCR, Chennai, Kolkata, Bengaluru and Ahmedabad.[2]

Shapoorji Pallonji entered into an agreement with Standard Chartered Private Equity, International Finance Corporation (IFC) and the Asian Development Bank (ADB) for investing in the affordable housing segment under its brand Joyville.[3] Standard Chartered Private Equity, IFC and the Asian Development Bank together holds 70% stake in this joint venture, while the rest is with Shapoorji Pallonji Group.[3] This venture will also contribute to the Prime Minister’s "Housing for All" mission of providing 20 million houses by 2020.[4]

Joyville has launched its first project in Howrah, Kolkata early this year. The project is sprawled over 30-acre land nestled in the suburb of Salap in Howrah.[5] In March, the brand is expected to launch its second project in the outskirts of Mumbai.[3]

History

Legacy

Founded in January this year, Joyville brand is an affordable housing segment launched by Shapoorji Pallonji Group [6] that has an experience of over 150 years in building residential spaces and commercial structures.[7] Some of the architectural landmarks built by the group include The Palace of the Sultan of Oman,[8] The Presidential Villa at Ghana, The Park Towers in Dubai,[9] The Imperial Towers in Mumbai[7] and Park West in Bengaluru.[10]

The group has its presence in infrastructure, textiles, real estate, security systems, industrial engineering, home appliances, publication, energy and power industries.[11][12] With a turnover of US $2.5 Billion,[13] Shapoorji Pallonji Group has truly evolved into a huge conglomerate from just a small construction and infrastructure company named Littlewood Pallonji & Co in 1865.[14] Today, the group is present in 43 countries with over 35,000 employees and 20 operating companies.[7][15] Shapoorji Pallonji group is one of the oldest and the first Indian construction company to earn the ISO 9001 Certification.[16]

References

  1. ↑ Menon, Bindu (27 January 2016). "Shapoorji Pallonji group launches affordable housing brand". The Hindu Business Line. Retrieved 5 February 2016.
  2. ↑ Babar, Kailash (27 January 2016). "Shapoorji Pallonji launches affordable housing brand; to build 20m sq ft in 1st phase". ET Realty. Retrieved 5 February 2016.
  3. 1 2 3 Reporter, BS (27 January 2016). "Shapoorji Pallonji debuts affordable housing with Joyville". Business Standard. Retrieved 5 February 2016.
  4. ↑ Nandy, Madhurima (1 August 2015). "Shapoorji Pallonji forms joint venture to build 20,000 affordable homes". Live Mint. Retrieved 5 February 2016.
  5. ↑ "A life of ease awaits you at Joyville". Joyville Homes. Joyville Shapoorji Housing Private Limited. 27 January 2016. Retrieved 5 February 2016.
  6. ↑ Nandy, Madhurima (28 January 2016). "Shapoorji Pallonji targets 20,000 affordable housing units in 7 years". Live Mint. Retrieved 10 February 2016.
  7. 1 2 3 Mendes, Jayashree (11 August 2015). "Building on a 150-year-old legacy". Construction Week. Retrieved 10 February 2016.
  8. ↑ "Shapoorji Pallonji Group: The Mughal-e-Azam Of realty business". The Economic Times. 24 November 2011. Retrieved 10 February 2016.
  9. ↑ "Pallonji wins Dh6oom Park Towers deal at DIFC". Gulf News. 26 December 2006. Retrieved 10 February 2016.
  10. ↑ "Landmark Spaces". Shapoorji Pallonji Real Estate. Shapoorji Pallonji Real Estate. Retrieved 10 February 2016.
  11. ↑ "Jetropha Mission in UP". Jetropha Mission. Jetropha Mission. Retrieved 10 February 2016.
  12. ↑ "Shapoorji Pallonji Group". Shapoorji. Shapoorji Group. Retrieved 10 February 2016.
  13. ↑ "Shapoorji Pallonji's Forbes & Co up 9%". The Indian Express. 24 November 2011. Retrieved 10 February 2016.
  14. ↑ Adhikari, Anand (30 September 2012). "Partnership with Littlewoods Pallonji & Company". Business Today. Retrieved 10 February 2016.
  15. ↑ Kamath, Raghavendra; Subramanian, N Sundaresha (24 November 2011). "Cyrus steered Shapoorji's fast-track growth". Business Standard. Retrieved 10 February 2016.
  16. ↑ "Shapoorji Pallonji Corporate Profile" (PDF). Shapoorji Pallonji. Shapoorji Group. Retrieved 10 February 2016.
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