Innovators in Real Estate
Infrastructure and Strategic Investments
Building a Legacy of Excellence Since the 1970s
About Us
The Parasmani Group traces its roots back to the 1970s when it was founded by Savjibhai Patel as Palitana Sugar Mills Pvt Ltd. The company's journey began in the sugar industry, but it quickly diversified its interests, showcasing remarkable adaptability and foresight. In 1976, the group marked its entry into infrastructure development with the construction of the Dhatarvadi Dam, signaling the beginning of its expansion beyond its initial focus.
Evolution and Rebranding
As the company grew, it underwent a significant rebranding, emerging as the Parasmani Group. the group's expansion into real estate development became evident with its ambitious project in Bhavnagar, where it constructed an impressive 14,000 homes spread across 980 acres. This large-scale residential development not only demonstrated the group's capability to handle complex projects but also established its reputation as a major player in Gujarat's real estate sector.
The group further purchased 707 acres of the famous Laxmivilas Palace from His Highness Sayajirao Gaekwad III with plans to build a housing society of 16,000 units. However, the project did not go forward due to a breach of contract and subsequent lengthy litigations.
Leadership
And Vision
Under the leadership of Nilesh S. Patel, the Parasmani Group has continued to push boundaries and explore new horizons. The company's strategic vision is evident in its accumulation of a substantial land bank throughout Gujarat, positioning itself advantageously for future developments. Beyond real estate and infrastructure, the Parasmani Group has diversified its portfolio through strategic investments in various private companies for equity. This diversification strategy is managed by Aman N. Patel, the third generation of the family, who also oversees the group’s active participation in venture capital funding for startups.
The Parasmani Group's innovative spirit and ambition are further exemplified by its participation in pioneering projects. Notably, the group partnered in the development of Westgate, Gujarat's first 21-floor building, marking its entry into high-rise construction and setting new benchmarks in the state's urban landscape. Currently, the group is engaged in several significant projects, including a 100-acre scheme in Vinchiya and an ultra-luxurious residential project at S.G. Highway, on a prime land owned by the group, in partnership with Goyal and Co.
Innovative Projects
The Parasmani Group's journey from its humble beginnings to a diversified conglomerate is a testament to its adaptability, vision, and strategic growth approach. With its strong presence in real estate, strategic land holdings, and diversified investment portfolio, the group is well-positioned for continued growth in Gujarat's dynamic economic landscape. As it continues to explore new opportunities and sectors, the Parasmani Group remains a key player in shaping the region's development and economic future.