Draft:Runwal Realty
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| Type | Public |
|---|---|
| Industry | Real estate |
| Founded | 1978 |
| Founder | Subhash Runwal |
| Headquarters | Mumbai, Maharashtra, India |
Key people | Sandeep Runwal (MD) |
| Website | runwalrealty |
Runwal Developers Limited, d/b/a under the brand name of Runwal Realty, is an Indian real estate development company, headquartered in Mumbai. The company develops residential, commercial, and retail properties, primarily in the Mumbai Metropolitan Region and Pune.[1]
In 2016, Runwal Realty transitioned into an independent entity from the Runwal Group, which was established by Subhash Runwal in 1978.[2] Runwal Realty is led by its MD Sandeep Runwal, who is also the Chairman of National Real Estate Development Council (NAREDCO).[3][4]
History
[edit]The company was established in 1978 by Subhash Runwal. It initially developed affordable apartments, before shifting focus to luxury apartments, mixed-use development, retail and commercial properties.[2]
In April 2003, it opened its first shopping mall, R-Mall in Mulund, Mumbai.[5][6]
In 2007, the developer established a 50:50 joint venture with Singapore's sovereign wealth fund GIC for the development of R City Mall in Ghatkopar, Mumbai, with a total investment of ₹250 crore (US$26 million).[7] The mall was built on a 28 acre plot acquired from Wyeth Lederle in 2004.[8]
In 2016, Runwal Group was succeeded by two independent entities—Runwal Realty and Runwal Enterprises. Runwal Realty is the brand name of Runwal Developers Limited and led by Sandeep Runwal, while Runwal Enterprises is led by Subodh Runwal.[3][9]
In 2019, the company formed a 50:50 joint venture with Warburg Pincus in a mixed-use platform to develop and invest in shopping malls.[10][11][12]
In May 2023, it bought out GIC's 50% stake in R City Mall for ₹1,000 crore (US$100 million).[13][14] In November 2023, Runwal Developers bought out Warburg Pincus' 50% stake in their joint venture platform for retail, commercial, and mixed use development for ₹600 crore (US$63 million).[15][16]
In 2024, the company acquired a 4-acre plot in Worli, Mumbai, from Kansai Nerolac for ₹800 crore (US$83 million),[17] and another 4-acre land parcel in Kanjurmarg, Mumbai, from NITCO for ₹232 crore (US$24 million).[18]
In 2025, the company rebranded as Runwal Realty.[19] Later that year, it filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India for its initial public offering to raise ₹2,000 crore (US$210 million).[1][20]
See also
[edit]References
[edit]- ^ a b Pisal, Prachi (1 October 2025). "Runwal Developers files draft papers with Sebi to raise ₹2,000 cr via IPO". Business Standard. Retrieved 15 June 2026.
- ^ a b Karmali, Naazneen (2 March 2015). "India's Newest Billionaire Subhash Runwal Built A Property Empire From Nothing". Forbes. Retrieved 15 June 2026.
- ^ a b Sapna, Srivastava (18 May 2026). "Runwal Realty: Crafting a Multi-Asset Empire". Realty Plus. Retrieved 15 June 2026.
- ^ "Going forward, tall buildings will increasingly be defined not by height alone, but by the quality of lifestyle they offer". Construction Times. Retrieved 22 June 2026.
- ^ Raghavendra, Nandini (17 August 2003). "Shopping malls become family entertainment centres in Mumbai". The Economic Times. Retrieved 15 June 2026.
- ^ Wadhwani, Chesta (2 June 2006). "Mulund, Thane popular among homebuyers". The Economic Times. Retrieved 15 June 2026.
- ^ Unnikrishnan, Rajesh (20 June 2007). "Singapore fund GIC in JV with Runwal for Ghatkopar realty". The Economic Times. Retrieved 15 June 2026.
- ^ Gurbir, Singh (28 June 2004). "Wyeth sells Mumbai unit to Runwals". The Economic Times. Retrieved 15 June 2026.
- ^ Mendes, Jayashree (4 May 2016). "Prudent Pursuits". Construction Week. Retrieved 22 June 2026.
- ^ Nandy, Madhurima (20 May 2019). "Warburg Pincus forms JV with Runwal Group to build malls in India". Mint. Retrieved 15 June 2026.
- ^ Sarika, Swet (20 May 2019). "Warburg Pincus forms $1 bn shopping mall platform with Runwal Group". VCCircle. Retrieved 15 June 2026.
- ^ Kamath, Raghavendra (20 May 2019). "Warbug Pincus, Runwal form JV to build malls, commit $200 mn each". Business Standard. Retrieved 15 June 2026.
- ^ Babar, Kailash (5 May 2023). "Runwal buys out GIC's entire 50% stake in Mumbai's R City Mall". The Economic Times. Retrieved 15 June 2026.
- ^ Krishnan, Janaki (5 May 2023). "Singapore's GIC exits mall in Mumbai for ₹1,000 crore". The Hindu BusinessLine. Retrieved 15 June 2026.
- ^ Babar, Kailash (15 November 2023). "Warburg Pincus makes Rs 600 crore exit from joint realty development platform with Runwal". The Economic Times. Retrieved 15 June 2026.
- ^ "GIC exits partnership with Runwal, secures 4x returns on investment". Construction Week India. 9 May 2023. Retrieved 22 June 2026.
- ^ Babar, Kailash (24 October 2024). "Runwal Realty acquires Kansai Nerolac's 4-acre land parcel in Mumbai's Worli". The Economic Times. Retrieved 15 June 2026.
- ^ Babar, Kailash (5 September 2024). "NITCO sells 4-acre Mumbai plot to Runwal for Rs 232 crore". The Economic Times. Retrieved 15 June 2026.
- ^ "Runwal Realty onboards Sonam Kapoor as brand ambassador". Brand Equity, The Economic Times. 18 March 2025. Retrieved 15 June 2026.
- ^ Bhattacharya, Shubhayan (16 January 2026). "SEBI approves 7 IPOs including Silverton, Runwal Developers, Augmont Enterprises". NDTV Profit. Retrieved 15 June 2026.