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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Expenditure for ongoing and upcoming residential development projects
Allocating funds towards construction and development expenses for identified residential projects.
Acquisition of identified land parcels and general corporate purposes
Funding the acquisition of strategic land parcels for future developments alongside general corporate requirements.
(₹ in Crore)
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Veegaland Developers Limited, incorporated in 2007 and headquartered in Ernakulam, Kerala, is a real estate development company operating under the brand name Veegaland Homes. The business is promoted by Kochouseph Thomas Chittilappilly, who also founded the V-Guard business group. The company specializes in designing, constructing, and marketing contemporary residential apartments, commercial properties, and integrated gated townships across major urban hubs in Kerala, including Kochi, Thiruvananthapuram, Thrissur, and Kozhikode. The firm manages every phase of real estate project development using an in-house operational workflow. Its activities encompass land identification and acquisition, architectural planning, regulatory approvals, structural engineering, construction management, and direct sales. By mid-2026, the company had completed 10 residential projects comprising a total saleable area exceeding 11 lakh square feet, while maintaining an active pipeline of ongoing projects and strategic land reserves across Kerala. Supported by an experienced executive management team and a workforce of over 100 full-time professionals, Veegaland Developers focuses on construction quality, sustainable engineering practices, and adherence to project delivery schedules. Through strategic project placement in expanding Southern Indian urban centers, the company aims to serve rising residential housing demand created by regional urbanization and middle-class income growth.
Veegaland Developers raised Rs 63 crore by placing 45,00,000 equity shares with 10 institutional anchor investors at Rs 140 per share on September 9, 2026, including EQ India Fund, Swyom India Alpha Fund, Tiger Strategies Fund, and Taurus Mutual Fund.
Source: RHP • Analysis provided for informational purposes
Last Updated: 17 September 2026, 2:35 PM
Strong Promoter Pedigree and Brand Equity
Leverages the established reputation and operational governance of the V-Guard business group promoted by Kochouseph Thomas Chittilappilly.
Integrated Operating Model and Internal Execution
Controls the entire development cycle internally from site selection and design approvals to engineering, construction management, and direct property sales.
Established Market Presence in Growing Kerala Urban Centers
Maintains a strong track record of completed projects and active pipelines across high-growth urban hubs including Kochi, Trivandrum, Thrissur, and Kozhikode.
Geographic Regional Concentration
Operations are heavily concentrated in Kerala real estate markets, exposing cash flows to regional economic downturns or state regulatory policy shifts.
Construction Material Cost Volatility
Fluctuations in key building material expenses such as cement and steel could adversely impact operating profit margins and project completion timelines.
Sensitivity to Home Loan Interest Rates
Changes in macroeconomic conditions or mortgage interest rate increases could negatively influence home buying demand and property sales velocity.
Veegaland Developers Limited
XXXV/564, 4th Floor, K C F Tower, Bharat Matha College Road, Kakkanadu, Thrikkakara, Ernakulam, Kerala - 682021, India
View on Maps →MUFG Intime India Private Limited
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