Hiranandani Communities Enters Goa Market with ₹450 Crore Project Management Partnerships
Hiranandani Communities Launches Goa Market Entry via Eleva PMC Model
Mumbai-based real estate developer Hiranandani Communities is entering the Goa real estate market through project management partnerships worth a combined ₹450 crore, under its Eleva by Hiranandani model.
The company will provide project management consultancy (PMC) services for two residential projects that together are expected to add around 0.25 million square feet of development across a five-acre land parcel.
Projects and Partnership Structure
The projects, Aria Residency by Azul Amor LLP and Cloud Infinity Premium Villas by Shree Yagna Builders and Developers, comprise premium apartments and villas and are located in what the company described as high-growth corridors in Goa. The regional developers have appointed The Guardians Real Estate Advisory as the strategic partner for sales and marketing of the two RERA-registered projects.
The partnerships have been structured under Eleva by Hiranandani, a model through which Hiranandani Communities works with local developers and provides project management and execution expertise without undertaking the entire development cycle itself. The Goa entry is part of the company's stated plan to build Eleva as a scalable platform for expansion into real estate markets across India.
Market Context and Drivers
The company said Goa's residential market is being supported by improved connectivity, including the operationalisation of Manohar International Airport at Mopa and the ongoing upgrade of the Mumbai-Goa National Highway. It also pointed to rising interest from high-net-worth individuals, non-resident Indians and second-home buyers.
Niranjan Hiranandani, chairman and managing director of Hiranandani Communities, said Goa is evolving into a year-round residential and coastal lifestyle destination, driven by improved connectivity, hybrid living, increasing demand for homes from established branded developers, and customers' growing propensity towards experiential living.
Hiranandani Group's Track Record
Hiranandani Group is a diversified conglomerate that was established in 1978 by Niranjan Hiranandani and Surendra Hiranandani and is based in Mumbai, Maharashtra, India. The group is one of the largest real estate developers in India with projects across Mumbai, Bengaluru, Chennai, and Hyderabad.
Last year, in September, Hiranandani Communities launched a 225-acre integrated coastal township with an investment of around ₹5,000 crore and a revenue potential of ₹17,000 crore in Alibaug, a coastal town in Raigad district of Maharashtra, just south of Mumbai.
Broader Portfolio Expansion
The Goa entry reflects the company's recent diversification beyond its traditional bases. In 2025, the group announced major partnerships across western India, including a joint development with Krisala Developers in Pune's Hinjewadi area and multiple industrial and logistics ventures through its GreenBase subsidiary. The Eleva model represents a shift toward managed-service partnerships, enabling faster market expansion with reduced capital deployment.