TVS Emerald secures ₹425 crore from IFC to develop housing projects in Chennai and Bengaluru
TVS Emerald, the real estate arm of the TVS Group, has secured a ₹425 crore investment from the International Finance Corporation (IFC) to develop housing projects in Chennai and Bengaluru. A part of the investment will be used to develop over 4,500 premium apartments, the company said in a statement.
The developer said a portion of the investment will be used to develop two large residential projects slated for launch in FY27, one along the Pallavaram–Thoraipakkam Radial Road (PTR) corridor in Chennai, with an investment of ₹136 crore, and another at Sathanur in Bengaluru, backed by ₹103 crore. The remaining funds will be earmarked for additional residential developments planned over the next two years, it said.
Together, the PTR and Sathanur projects are expected to generate a combined topline of about ₹4,400 crore, with the Bengaluru project contributing around ₹1,600 crore and the Chennai development accounting for nearly ₹2,800 crore, according to the company.
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“This partnership reflects confidence in TVS Emerald’s long-term vision, growth, execution capabilities, and governance framework. As we enter the next phase of our growth journey, this partnership allows us to remain firmly aligned with our long-term priorities, measured expansion, disciplined capital deployment, and the creation of residential communities that deliver exceptional value to our customers and stakeholders, while staying true to the values and legacy of the TVS Group,” Sriram Iyer, director and CEO, TVS Emerald, said.
Imad N Fakhoury, Regional Division Director for South Asia at IFC, said the partnership demonstrates how housing for middle-income families can deliver both commercial returns and social impact.
He noted that the planned developments, over 4,500 apartments across Chennai and Bengaluru, would bring quality housing closer to employment hubs while supporting economic activity and job creation across the construction value chain.
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To date, TVS has delivered over 6 million sq. ft. of residential developments and has more than 9 million sq. ft. currently under development.
Last year, the company acquired a prime 7.18-acre land parcel near Rayasandra Lake in southeast Bengaluru to develop a premium residential project, with potential revenue of over ₹700 crore.
In February 2025, the company purchased a 10-acre parcel of land in Sathnur, Bengaluru. The acquisition had development potential of 1.4 million sq ft and revenue potential of ₹1,600 crore.
The company had earlier acquired two land parcels in Chennai (a 12-acre parcel on Radial Road and a 4.8-acre parcel in Padur) and a four-acre parcel in Thanisandra, Bengaluru.
