K RAHEJA TARDEO (BAYSIDE MALL & POPULAR PRESS REDEVELOPMENT)

Founded in Mumbai in 1956 by Chandru Raheja, K Raheja Corp has grown over nearly seven decades from a single-city construction firm into one of India's most diversified real estate conglomerates. The group today operates across six distinct business verticals — commercial office parks, luxury residences, upscale hospitality, destination malls, organised retail, and power — and houses three publicly listed entities: Mindspace Business Parks REIT, Chalet Hotels Ltd., and Shoppers Stop Ltd. Headquartered at Raheja Tower in Bandra Kurla Complex, Mumbai, the group employs more than 13,000 people and maintains active operations in Mumbai, Pune, Hyderabad, Chennai, Bengaluru, and Goa.

The group's approach to development is built on a build-and-hold philosophy rather than a transactional build-and-sell model, which it has applied most visibly in its commercial portfolio. Under the Mindspace and Commerzone brands, K Raheja Corp has developed over 54 million square feet of Grade-A office space, making it the second-largest commercial developer in India by scale. In August 2020, a portion of this portfolio was carved into Mindspace Business Parks REIT — listed on Indian stock exchanges — with a total leasable area of 33.1 million square feet across the Mumbai region, Hyderabad, Pune, and Chennai, serving over 210 domestic and foreign multinationals. The REIT was also the first real estate entity in India to commit to both the EV100 and RE100 initiatives of the Climate Group.

The group's residential arm, K Raheja Corp Homes, has been active for four decades and has delivered over 10 million square feet of residential area across 30-plus projects, creating homes for more than 8,500 families. Signature addresses include Raheja Vivarea in Mahalaxmi, Mumbai — a 14-acre low-density community launched in 2007 — and Raheja Artesia in Worli, offering sea-facing 4 BHK residences. In Pune, the group has shaped micro-markets along NIBM Road and the Hinjewadi-Balewadi corridor through projects such as Raheja Reserve and Raheja Vistas Premiere. Its hospitality arm, operated through Chalet Hotels Ltd., owns and manages 10 operating hotels totalling 3,052 keys under globally recognised brands including JW Marriott, Westin, and Sheraton. The Inorbit Malls business operates five shopping centres covering approximately 2.7 million square feet across Mumbai, Navi Mumbai, Hyderabad, Vadodara, and Hubballi.

At the core of K Raheja Corp's ownership philosophy is a commitment to environments that outlast individual transactions. The group became a founding signatory to the CII-Green Building Council's memorandum of understanding for green construction in India in 2007, and has since received Gold and Platinum certifications across multiple assets. Mindspace Business Parks received the SEAL Environmental Initiative Award, and in 2023 K Raheja Corp Homes was recognised for Best Sustainable Project of the Year by the UBS Forum. The group has also been honoured as Best Real Estate Development Firm for Excellence in Indian Residential Development by the Sustainable Building Award, United Kingdom. Across more than 100 awards accumulated over the decades, the throughline is consistent: quality of construction, transparency with buyers, and timely handover.