Investment Announcement
On October 23, 2026, Sundaram Alternates announced an additional investment of ₹80 crore in Chennai‑based real‑estate developer VRX Homes, bringing its cumulative stake to ₹160 crore after an earlier ₹80 crore commitment.
Development Progress
VRX Homes has already delivered 986 apartments and has initiated handover for another 722 units, raising the total number of delivered and handover‑initiated apartments to 1,708. The company projects delivery of an additional 820 apartments within the current calendar year, underscoring a strong execution pipeline.
Allocation of New Capital
The newly raised funds will be deployed to fast‑track ongoing projects, notably the construction of 1,352 apartments across the emerging residential corridors of Thirumazhisai and Porur, as well as the development of 146 villa plots in the rapidly growing Oragadam region.
Brand Visibility
VRX Homes continues to leverage the brand appeal of Indian cricketer Ravichandran Ashwin, who serves as its brand ambassador, to enhance market visibility as the developer scales operations.
Strategic Significance
The infusion of capital reflects sustained institutional confidence in VRX Homes' business model, delivery capability, and growth prospects within Tamil Nadu’s residential housing market.
Reference
For further information, the press release provides a referral link: https://vrxliving.com/ (Disclaimer: The release is distributed under an arrangement with PNN; PTI assumes no editorial responsibility).