How Paranjape Schemes turned a family philosophy into one of India’s most successful community-driven real estate legacies
In a sector often driven by speculation and speed, Paranjape Schemes (Construction) Ltd. represents a more deliberate model of growth one anchored in continuity, governance discipline, and long-term urban thinking. Over 35 years, the Pune-headquartered developer has delivered more than 200 projects and over 20 million square feet across nine cities, spanning residential communities, integrated townships, senior living ecosystems, and commercial infrastructure.
What distinguishes the company is not just scale, but strategy. Expansion has been guided by end-user demand, infrastructure-led planning, and a belief that housing must function as part of a larger civic framework rather than an isolated product.
That philosophy traces back to the early influences of founders Shrikant Paranjape and Shashank Paranjape, who shaped the company’s direction. Watching his grandfather, V.B. Paranjape, help shape Mumbai’s Vile Parle suburb instilled a simple principle: cities are built through institutions and social infrastructure as much as through homes. When Paranjape Schemes was established in Pune in 1989, the objective was not rapid project accumulation, but the creation of credible neighbourhoods designed to hold value across generations.
The company’s first major inflection point came with Woodland in Kothrud, Pune’s first high-rise residential project sanctioned by the municipal corporation. Introducing clubhouse living and integrated amenities to a city transitioning toward vertical housing, Woodland marked the shift from a local builder to a community-scale developer capable of influencing urban form.
A more unconventional leap followed in 2001 with Athashri, one of India’s earliest purpose-built senior living communities. At a time when organised senior housing faced hesitation, Athashri reframed ageing as independent, dignified living supported by community design. Today, 16 Athashri communities house more than 2,500 families, and the segment forms a meaningful pillar of the company’s long-term portfolio. The upcoming Athashri 2.0 expansion signals a strategic intent to scale senior living nationally as India’s demographic profile evolves.
Pune has functioned as the company’s primary laboratory of urban experimentation. Its rise as an education, manufacturing, and IT hub created migration-driven housing demand rooted in employment rather than speculation. Recognising the shift early, Paranjape Schemes moved into corridor-led development, culminating in Blue Ridge Township in Hinjawadi a mixed-use township aligned with government policy. Its rapid absorption validated infrastructure-backed planning and reinforced the viability of large-format urban ecosystems.
Subsequent townships such as Forest Trails in Bhugaon a low-density, nature-led development with nearly 90% open spaces and Kaleidoscope Township extended this philosophy. Together, they represent a capital-intensive but high-conviction strategy: invest early in infrastructure, social amenities, and community planning to create long-term asset value rather than short-term velocity.
Financially, this approach has produced a resilient operating model. The company prioritised execution discipline, early ERP-led project management, ISO-certified maintenance systems, and sustainability practices that reduce lifecycle costs
During the COVID shock, while the sector faced uncertainty, Paranjape Schemes saw faster-than-expected demand recovery, particularly from mid-income and premium buyers seeking larger, adaptable homes. The rebound reinforced a long-held thesis: in growth cities like Pune, structural housing demand remains intact when supported by employment generation and infrastructure expansion.
Buyer behaviour has matured. Today’s customer evaluates governance, delivery track record, and sustainability alongside price and location. Brand credibility increasingly functions as a financial asset. The company’s multi-decade presence, repeat customer base, and township-led ecosystem model position it as a lower-risk choice in a volatile sector.
Beyond conventional housing, the company has expanded into social infrastructure — embedding a business-with-a-social-touch philosophy that connects real estate with public service. Aastha, an assisted senior living initiative, and Swaniketan India’s first purpose-built residential ecosystem for differently-abled individuals integrate social responsibility into core strategy while diversifying revenue into specialised, high-visibility segments.
Commercial development has followed a parallel trajectory. With over 4.5 million square feet of delivered SEZ and office space, the company aligns with Pune’s emergence as a Global Capability Centre destination. Hybrid work and flexible office ecosystems reinforce the logic of mixed-use planning, where residential catchments and employment hubs evolve together.
Real estate is ultimately a people-led business built on trust and long-term commitment. Teams have been nurtured over decades, creating continuity and institutional memory. Senior leaders including Sanjay Joshi, Kamalesh Dutta, Mahesh Saluja, Chandrashekhar Pingale, Prasanna Marne, Sudhir Kulkarni, and Dr. Vijay Rhayakar have shaped the organisation for over 25–30 years. Working alongside them is the next generation — Rahul Paranjape, Amit Paranjape, Sahil Paranjape, and Yash Paranjape — driving finance, business development, acquisitions, customer relations, and strategy. This blend of experience and renewal anchors innovation in stability.
At the centre is Managing Director Shashank Paranjape, whose leadership reflects the company’s measured philosophy. Known for a hands-on approach and long planning horizon, he frames real estate as a multi-generational responsibility rather than a quarterly business.
As India enters a new infrastructure-led urban cycle driven by metro networks, regional corridors, and distributed economic hubs Paranjape Schemes is positioning itself for calibrated expansion. Over the next decade, the organisation aims to deepen its footprint as a trusted brand, expand senior living nationwide, create vibrant integrated townships, and lead with sustainability and community-led innovation. Strengthening regional connectivity, global engagement, and renewed NRI participation are adding resilience to the ecosystem. For the company, the next phase is not about scale alone, but about relevance and responsibility disciplined execution and spaces designed to age well with the city.
For a company shaped by three and a half decades of steady execution, the objective is not acceleration for its own sake. It is relevance building communities that outlast market cycles.
In an industry obsessed with skylines, Paranjape Schemes continues to focus on something less visible but more durable: the social architecture of cities.
