Krisumi eyes Rs 4,000 crore revenue from next phase of Gurugram project

Krisumi Corporation, a 50:50 real estate joint venture between automotive major Krishna Group and Japan’s Sumitomo Corporation, is eyeing around Rs 4,000 crore revenue from the fifth and sixth phases of its luxury project ‘The Forest Reserve’ in Gurugram.

The project is part of a wider development, Krisumi City, on Dwarka Expressway. Launched in 2019 and built on a 33.5-acre land parcel, the first four phases of the project have been completed, with around 1,500 apartments worth Rs 4,000 crore already sold.

Dubbed as a “mini–Japanese City”, Krisumi also aims to cater to the growing number of Japanese expats living in Gurugram.

For this, the Indo-Japanese real estate developer has brought in Nikken Sekkei, a Japanese architect, project management and quality control firm. A Japanese company is also doing the interior design.

In the first phase, out of 112 apartments, 28 have been leased to Japanese people, says Ashok Kapur, Chairman of Krishna Group and Krisumi Corporation. There is a Japanese chef, too, he adds.

A lot of Japanese expats want to lease studio apartments, says Kapur. Hisashi Takeuchi, the managing director and CEO of India’s biggest carmaker, Maruti Suzuki India Ltd, has shown interest in leasing 100 studio apartments from phase II of the project, he explains.

“This authenticity is reflected in our community, where approximately 25% of the resident families are Japanese, creating a truly global living environment,” Kapur says.

Krisumi is betting big on its proximity to the proposed Global City in Gurugram. “Launching our first project at ₹8,500 per sq. ft. despite the connectivity delays at Dwarka Expressway at that time, today Krisumi City commands around ₹24,000 per sq. ft. With proximity to the upcoming Global City and improving connectivity between Gurugram and Delhi, prices are expected to rise further,” believes Kapur.

Over the past decade, Krisumi has become a symbol of Indo-Japanese collaboration, says Yuji Kato, Co-CEO & Director, Krisumi Corporation. “Japanese construction quality is the best in the world,” Kato adds.