Eldeco Eyes Three Lucknow Launches by March 2027, Subject to Approvals

Eldeco Plans Three Lucknow Launches Before March 2027

Facts as on November 2026, from RERA / the developer.

Eldeco Group wants to put three new residential schemes on the Lucknow market before March 2027. The first is its forthcoming Eldeco Shaheed Path project on Shaheed Path, followed by Palm Springs and Namah. The price and configurations of Eldeco Shaheed Path have not been announced yet, and the company has described all three timelines as targets rather than committed launch dates.

The timeline came out of Eldeco Housing and Industries' Q2 FY27 earnings call. Group CEO Vaibhav Singh said a March 2027 launch looked feasible on the company's best estimate, but he warned against overcommitting because Uttar Pradesh is heading into state elections. Management also said an election-related slowdown could hold up approvals, and every launch depends on approvals, site readiness and market conditions.

What the Announcement Covers

• Eldeco Shaheed Path: about 10,06,635 sq ft of saleable area on 7 acres, which the company describes as tentative until layout approval. The project is still awaiting final approval.
• Palm Springs: 19.5 acres with roughly 3,20,000 sq ft, also pending final approval.
• Namah: 32.8 acres with 5,96,812 sq ft, and its layout is approved. A further 8.9 acres is still being aggregated, and the company is considering adding more land before it applies.

Management also tied the three schemes to a wider pipeline. Eldeco said its ongoing projects, forthcoming developments and already tied-up land could support about ₹5,500 crore of execution and revenue over the next five to six years. Roughly ₹1,600 crore to ₹1,700 crore comes from launched projects, ₹3,000 crore to ₹3,200 crore from forthcoming ones, and about ₹1,000 crore from land already secured. The company stressed that this is not a formal gross development value forecast.

Impact on Homebuyers

For a buyer, the biggest takeaway is timing. Anyone hoping to book Eldeco Shaheed Path in the first months of its launch should keep a close eye on approvals, because the company itself has warned that elections could slow them down. Until a price sheet and unit mix are released, any figure you hear is speculation.

The company's pricing signals are useful context, though they are not project rates. Eldeco reported a company-wide weighted average realisation of about ₹7,840 per sq ft in Q2 FY27, covering its entire portfolio. Management also identified homes priced between ₹1 crore and ₹3 crore as its current demand sweet spot. It said buyers are accepting higher prices for plots and villas, but group-housing buyers have resisted increases beyond a certain point.

Location matters here. Shaheed Path is a four-lane outer road of about 23.55 km, running from Transport Nagar to Chinhat. It was opened to traffic in June 2012 and was built to take through-traffic off the congested colonial lanes of central Lucknow. The Chaudhary Charan Singh International Airport is roughly 8.9 km away via NH 27, and Transport Nagar Metro station on Lucknow Metro Line 1 is nearby. The Awadh Expressway, which is under construction, begins on Shaheed Path in south Lucknow, and the Lucknow Development Authority has announced a ₹315 crore elevated flyover linking La Martiniere College to G-20 Road. Both projects could strengthen the corridor, but neither has a firm opening date yet, so buyers should not price them in as finished infrastructure.

Our advice is simple. Do not pay any booking amount until you have checked the project's UP-RERA registration, its approved layout and the final price sheet. If you want to buy in this corridor sooner, Eldeco's already-launched scheme on Amar Shaheed Path is a separate project with its own timeline and should be evaluated on its own merits.

Expert Analysis

The announcement lands in a strong financial period. Eldeco reported Q2 FY27 revenue of ₹51.84 crore, up 56.85% year on year, and first-half profit after tax of ₹22.5 crore, up about 290%. Collections rose 51% to ₹256 crore. Q2 booking value grew 7.8% to ₹94.9 crore.

There is a caveat. First-half booking value fell 35.1% to ₹200.6 crore, and management linked the performance to construction progress, deliveries and its existing sold portfolio, since it launched no new projects in Q2. That is the honest tension in this story: the company is earning on what it has already sold, while its sales engine waits for new launches. The launch targets in March 2027 are therefore important for the next leg of growth.

Management said a material growth step-up is more likely from FY29 onward, which tells you the company itself does not expect a quick surge. Eldeco has been listed on the NSE and BSE and says it has more than 40 years of experience in real estate, so its track record is longer than most Lucknow developers. Still, buyers should judge each project on approvals and delivery, not on the company's long history alone.

What to Expect Next

• Eldeco Shaheed Path is targeted for launch before March 2027, subject to approvals and site readiness.
• Palm Springs and Namah are on the same before-March timeline, with Namah's layout already approved.
• Two Lucknow Development Authority-linked projects in the same micro-market are expected to follow roughly six months after Shaheed Path.
• Within the next two to three quarters, the company will decide whether its bulk land at Solano Gardens should be developed as group housing, retained, or converted into horizontal projects.

Watch the approval process closely. If the state election calendar slows clearances, the March 2027 window could slip, and the rest of the pipeline would move with it.

Related Projects and Areas Affected

• Eldeco's Amar Shaheed Path scheme: an already-launched project on the same corridor, which the company says has strong sales momentum. It is separate from the forthcoming launches in this announcement.
• The Shaheed Path corridor: the outer ring road linking Transport Nagar to Chinhat, with airport and metro access, and the planned Awadh Expressway and elevated flyover as future upgrades.
• Gomti Nagar Extension: an Eldeco residential project where the company opened a show apartment off Shaheed Path, offering three and four bedroom homes.
• IIM Road group housing: a company project the group says was about 80% sold, which is a useful gauge of demand for mid-sized apartments in Lucknow.
• Solano Gardens land: a bulk Lucknow land parcel whose future format the company will decide within the next two to three quarters.