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Sanjay Ghodawat Group (SGG) and Nordstar Estates announced a joint venture on Thursday, forming Ghodawat Nordstar Pvt. Ltd. to develop residential and commercial real estate across Mumbai and Bengaluru. The partnership will market projects under the brand name NEVORA and targets a gross development value (GDV) exceeding ₹5,000 crore over the next few years.

The JV combines SGG’s operational and financial base across aviation, FMCG, education, energy, and retail with Nordstar’s track record in institutional capital management and large-scale real estate development in India and the United States. Nordstar’s founders, Dhruv Dua and Sharab Reddy, bring over $400 million in institutional capital managed and development experience spanning more than 20 million square feet.

In Mumbai, the JV will target micro-markets across South and Central Mumbai, the Western and Central Suburbs, and lifestyle destinations including Alibaug, Karjat, and Vasai. In Bengaluru, it will focus on established and emerging tech-corridor addresses where Nordstar already has an execution presence.

Shrenik Ghodawat, Managing Director of SGG, said buyers now expect quality, transparency, and a seamless experience, and that the partnership would focus on energy efficiency and technology-driven solutions. Sharab Reddy emphasised disciplined land acquisition and rigorous underwriting as the foundation of the platform’s approach.

SGG, founded in 1993, has delivered over 12 million square feet of residential and commercial projects and has another 5 million square feet under development. The group employs over 11,000 people.

The announcement comes as India’s real estate market is projected to grow from $650 billion in 2025 to $5.8 trillion by 2047, according to a FICCI-KPMG report. The NEVORA consumer brand identity is set to be formally unveiled in the coming months.

Published on July 16, 2026

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