Merlin Group forays into Pune, to invest Rs 2,000 crore in five years

Over the next five years, Merlin Group, a real estate company headquartered in Kolkata, intends to invest Rs 2,000 crore in Pune. Saket Mohta, the Managing Director of the group, stated to The Indian Express that their focus is on corporate leasing and commercial portfolios in the region. The planned investment encompasses both commercial and residential projects within the greater Pune Metropolitan Regional Development Area (PMRDA).

Mohta explained that the decision to expand into Pune is driven by its status as a significant commercial city, following Bengaluru, housing a multitude of corporate firms. The company aims to concentrate on corporate leasing and the commercial sector in Pune.

Apart from West Bengal, Merlin Group has operations in Ahmedabad, Raipur, Chennai, and Colombo. Mohta specified that the group prefers developing its own land parcels or engaging in joint venture projects. However, they are also open to taking over stalled projects.

The proposed development projects are slated for locations including Koregaon Park, Wakad, Jambhuwadi, and Baner.