BHUTANI GROUP

What BHUTANI GROUP does

Bhutani Group (operating as Bhutani Infra) is a privately held, founder-led commercial real estate developer headquartered in Noida, Uttar Pradesh, with a portfolio spanning commercial offices, mixed-use complexes, retail malls, co-working spaces, hospitality, and luxury residential projects. The company was founded by Ashish Bhutani (CEO) and operates the legal entity Parmesh Constructions Company Limited. Its flagship developments include Alphathum (Sector 90, Noida), Cyberthum (26.8-acre mixed-use complex in Sector 140A, Noida with a 50-storey tower—the tallest in NCR), Astrathum, Bhutani Technopark, Cyber Park, Avenue 62, Avenue 133, City Center 32, City Center GZB, plus the Goa-based luxury residential project Acqua Eden and the Bhutani 18 residential address. The product architecture is a platform-plus-modules model where each flagship project integrates sub-components such as Etherea Co Work, SOHO suites, studio apartments, food courts, wellness centers, hypermarkets, and entertainment zones, including AI-driven features like the Etherea AI Bot and AI Smart Campus technology.

Bhutani generates revenue through three primary streams: one-time property sales (commercial offices, retail units, studio apartments, SOHO suites, luxury residential), recurring commercial property leasing with long-term lease guarantees and guaranteed rental returns, and managed property/facility management services delivered through global partners Colliers International, JLL, and Cushman & Wakefield. The company employs 251-500 staff and operates regional sales offices across 10+ Indian cities (Noida, Lucknow, Dehradun, Bhopal, Indore, Chandigarh, Ranchi, Patna, Dhanbad), supported by a direct sales-led go-to-market with enterprise field sales targeting Fortune 500 corporations, on-site leasing teams per project, and a dedicated BEST (Bhutani Experience Satisfaction Team) customer care unit. Pricing is quote-based and project-specific.

Beyond its core NCR portfolio, Bhutani is executing two transformational expansions: (i) a joint venture with filmmaker Boney Kapoor (Bayview Bhutani Film City Pvt Ltd) to develop a 230-acre International Film City in Sector 21 along the Yamuna Expressway, with an estimated Rs 1,510 crore investment over eight years, secured via a YEIDA concession in January 2024; and (ii) joint development agreements with original allottees (including Lotus Greens Group) to revive the Noida Sports City project, unlocking ~20 million sq ft of residential and commercial real estate after a March 2026 Supreme Court clearance. The company's differentiation rests on concept-based upscale design, sustainable/green architecture aligned with IGBC, GRIHA, and LEED standards, prime Noida Expressway locations, and a multi-city distribution network that gives investors across Tier 1-3 cities direct access to NCR commercial assets.

Name

BHUTANI GROUP

Legal name

Parmesh Constructions Company Limited

Website

https://bhutanigroup.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

251–500 employees

Short description

Bhutani Group (Bhutani Infra) is a Noida-based, privately held commercial real estate developer building mixed-use offices, retail malls, co-working, and residential projects across Delhi NCR, with regional sales offices in 10+ Indian cities and large-scale Film City and Sports City developments underway.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Nonresidential Property Managers (531312)

SIC

Real Estate Dealers (For Their Own Account) (6532), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

Keywords

• Commercial real estate development
• Mixed-use property projects
• Office space leasing
• Retail mall development
• Residential luxury apartments

Headquarters

HQ city

Noida

HQ country

India

HQ region

Asia

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Property Sales (Commercial & Residential): Bhutani Infra generates primary revenue through the sale of commercial office spaces, retail units, studio apartments, SOHO suites, and luxury residential units across its portfolio of projects in Noida, Greater Noida, and Ghaziabad. Revenue is generated on a per-unit, one-time basis at the point of sale.
2. Commercial Property Leasing: Long-term lease of office spaces, retail shops, co-working units, and hospitality spaces within Bhutani's commercial properties. The company offers investor-friendly leasing options including long-term lease guarantees and guaranteed rental returns. Managed facilities by Colliers, JLL, and Cushman.
3. Property Management & Facilities Management: Bhutani Infra provides property management and marketing support to tenants and landlords, ensuring seamless delivery and upkeep of premises within its commercial ecosystems.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Bhutani Group (Bhutani Infra) develops and sells commercial, retail, and mixed-use real estate primarily in the Delhi NCR region, with additional residential projects in Goa. Its portfolio includes flagship commercial office and retail projects (Alphathum, Cyberthum, Astrathum, Bhutani Technopark, Cyber Park, Avenue 62, Avenue 133, City Center GZB, City Center 32), residential developments (Acqua Eden, Bhutani 18), and a hotel (World Square Hotel). The company monetizes through one-time unit sales, long-term leasing with guaranteed rental returns, and managed property services delivered via global facility partners.

Product overview

Bhutani Group (Bhutani Infra) is a commercial real estate developer specializing in mixed-use developments, office spaces, retail properties, and residential projects primarily in Noida and the Delhi NCR region. The company's portfolio consists of multiple flagship projects including Alphathum (commercial offices), Cyberthum (26.8-acre tech-focused mixed-use complex), Astrathum, Technopark, Cyber Park, and several retail mall properties (Avenue 62, Avenue 133, City Center GZB, City Center 32). The product architecture follows a platform-plus-modules model where each major project (Alphathum, Cyberthum, etc.) serves as a core offering with multiple sub-products and components such as co-working spaces (Etherea Co Work, Cloud Co Works), retail units, SOHO suites, studio apartments, food courts, and corporate suites. The company also develops residential properties like Acqua Eden and Bhutani 18, and operates leasing and property management services.

Differentiator

Problem solved

Functional benefit

Brands

• Alphathum: Premium commercial office space project in Sector 90, Noida featuring multiple sub-projects including Alpha Infinity, Alpha Pride, Cloud Co Works, and corporate suites
• Cyberthum
• Astrathum
• Bhutani Technopark
• City Center 32
• City Center GZB
• Avenue 62
• Avenue 133
• Acqua Eden
• Bhutani 18
• Cyber Park
• BEST

Products and services

• Alphathum A commercial office space project in Sector 90, Noida, offering premium workspace designed to foster innovative and creative thinking. Features include Alpha Infinity, Alpha Pride, Ultima Pod, Cloud Co Works, Alphathum Mypod, Sky Bhutani, Terminal AZ, Etherea Co Work, Etherea Synergy, Startup City, and Corporate Suites for enterprise occupiers and investors.
• Astrathum A mixed-use development in Greater Noida West offering retail space, Bhutani SOHO Suite, studio apartments, food court, Food Zani, office space, and Epicure for investors and end-users.
• Cyberthum A 26.8-acre mixed-use complex in Sector 140A, Noida, featuring a 50-storey tower (tallest in NCR), offering retail spaces, office spaces, gaming and entertainment, co-working spaces, and food and beverage options for tenants, investors, and visitors.
• Bhutani Technopark Technology-focused office spaces in Sector 127, Noida, equipped with infrastructure for IT and IT-enabled services, featuring Bhutani Hive, My Pod, Foodybay, Foody Picasso, Bolt, retail space, and Food Bazaar.
• Cyber Park Office spaces in Sector 62, Noida, built and designed around IT infrastructure services offering a ready ecosystem for IT firms, featuring Cyberpark Etherea co-working and the Etherea AI Bot for tenant engagement.
• Avenue 62 A future-ready retail space project offering experiences beyond physical shops, featuring Bolt entertainment zone, SOHO suites, Navi Wellness, CP62, Food Court 62, and Hyper 62 hypermarket for retailers, F&B operators, and investors.
• Avenue 133 A luxurious retail project designed to set a new standard for future retail, featuring Central Dine and Foodzaani dining options for retailers, F&B brands, and visitors.
• City Center GZB The premier destination and only mall in Mohan Nagar, Ghaziabad for over ten years, spanning over 6 lakh (600,000+) square feet of built-up area, featuring B18 Cinemas and serving retail tenants, F&B operators, and shoppers.
• City Center 32 An epitome of urban retail sophistication in Sector 32, Noida, featuring Bhutani Grand Convention Center, Baker's Alley, Navi Wellness, Etherea co-working, food court, studio apartments, retail space, Hypermart, and Entertainment Zone for retailers, event organizers, and visitors. Awarded Most Popular Mall of the Year 2025 by Realty+.
• Acqua Eden A luxurious residential project in Goa designed to embrace luxurious living with sea-facing balconies, offering luxury studio apartments, Acqua Eden villas, luxury apartments, and Foodzani dining for affluent individual buyers and second-home seekers.
• Bhutani 18 A premium residential address project in Noida positioned as a rare address for individuals who think beyond boundaries, designed with distinctive living on their own terms for affluent individual buyers.
• World Square Hotel A four-star hotel located within City Center GZB in Mohan Nagar, Ghaziabad, featuring a gymnasium, swimming pool, and banquet facility with capacity for approximately 1,500 guests, catering to business and leisure travelers as well as events.

Quantifiable outcome

• Alphathum achieved over 90% sales within 2 years, making it the fastest-selling commercial real estate project in India
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Lotus Greens Group / Original Allottees (Noida Sports City)coreStrategic or Co-development Partner · 1 March 2026Bhutani Group entered joint development agreements with original allottees including Lotus Greens Group to develop the Noida Sports City projects, unlocking nearly 20 million sq ft of residential and commercial real estate. The Supreme Court cleared the restart of construction in March 2026 after a three-year freeze.
• Yamuna Expressway Industrial Development Authority (YEIDA)coreStrategic or Co-development Partner · 1 January 2026YEIDA is the government authority overseeing the Film City project concession. YEIDA appointed an independent engineering agency to monitor construction quality and compliance for the International Film City project. The concession agreement governs the project's development milestones, approvals, and financial close requirements.
• Bayview Projects LLP (Boney Kapoor Consortium)coreStrategic or Co-development Partner · 1 January 2024A joint venture between filmmaker Boney Kapoor (through Bayview Projects LLP) and Bhutani Infra for developing the Bayview Bhutani Noida International Film City project in Sector 21, Noida. The project covers 230-240 acres with an estimated investment of Rs 1,510 crore over eight years. Bhutani Infra provides real estate development expertise while Bayview brings entertainment industry expertise and brand value.
• Colliers InternationalminorImplementation/ SI/ Consulting PartnerColliers, a leading global real estate services firm, is engaged as a facility management partner for Bhutani Infra properties, providing professional property management, maintenance, and operational services.
• JLL (Jones Lang LaSalle)minorImplementation/ SI/ Consulting PartnerJLL, a leading global real estate services and investment management firm, provides facility management and property management services for Bhutani Infra commercial properties.
• Cushman & WakefieldminorImplementation/ SI/ Consulting PartnerCushman & Wakefield, a leading global real estate services firm, is engaged as a facility management partner for Bhutani Infra properties, providing professional property management and operational services.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Oberoi Realty: Premium Mumbai-based developer with marquee commercial office towers (Commerz, Commerz II, Oberoi Business Hub) and luxury residential. Comparable on premium positioning, developer-led commercial leasing model, and target Fortune 500 occupier base.
• Brigade Group: Indian real estate developer with a substantial commercial office portfolio (Brigade Tech Park, World Trade Center Bengaluru) plus retail and residential. Comparable on the concept of mixed-use, multi-product portfolio and on targeting enterprise tenants.
• Godrej Properties: One of India's leading listed real estate developers with a diversified portfolio including commercial office and mixed-use projects across major metros. Comparable to Bhutani as a large-scale, brand-led developer competing for institutional investors and enterprise occupiers.
• Lodha / Macrotech Developers: India's largest residential developer by sales and an emerging commercial player. Comparable as a listed, well-capitalized national developer competing in top Indian metros for commercial and integrated mixed-use opportunities.
• Hiranandani Group: Mumbai-headquartered developer known for large-scale mixed-use townships (Hiranandani Gardens, Powai) combining office, retail, hospitality and residences. Highly comparable business model of concept-based integrated mixed-use ecosystems.
• DLF Limited: India's largest commercial real estate developer with a massive office and retail portfolio including DLF Cybercity in Gurgaon. Directly comparable as the dominant commercial CRE player against whom Bhutani competes for the same Fortune 500 occupier pool in the broader NCR market.
• Prestige Group: South-India headquartered developer with significant commercial office portfolio (Prestige Tech Park, Cessna Business Park). Comparable on the model of integrated mixed-use developments combining office, retail and hospitality.

Direct peers

• Supertech Limited: Noida and NCR-based developer of residential and commercial projects including mixed-use townships. Directly comparable as a regional peer competing head-to-head in the Noida commercial and mixed-use market.
• Gaurs Group (Gaursons): NCR-based (Noida Extension / Greater Noida West) developer of large commercial and residential projects including Gaur City Mall. Highly comparable as a direct geographic peer in Greater Noida West where Bhutani is also active (Astrathum).
• ATS Group (ATS Infrastructure): NCR-based real estate developer with commercial and residential projects including ATS Bouquet and ATS One Hemlet. Comparable as a regional NCR-focused developer competing for similar corporate tenants and investors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/BhutaniGroup
• Facebookfacebook.com/bhutaniinfra

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BHUTANI GROUP