Eldeco eyes Lucknow's Shaheed Path for a launch before March 2027

Eldeco Housing and Industries Limited, the listed company of the Eldeco Group, has set a target to launch its Shaheed Path project in Lucknow before March 2027. The timing was given on the company's Q2 FY27 earnings call, which was reported on 10 November 2026. The launch depends on approvals, site readiness and market conditions, and the company has not committed to a date. The project's status is Upcoming.

When the launch could happen

Group Chief Executive Officer Vaibhav Singh said that, on the company's best estimate, a launch by March 2027 appeared feasible. He also cautioned against overcommitting, because Uttar Pradesh is approaching state elections. Management said an election-related slowdown could affect the approval process.

The company has also targeted launches before March 2027 for two other Lucknow projects, Eldeco Palm Springs and Eldeco Namah, on the same conditions. Palm Springs is pending final approval. For Namah, the company is applying for registration under the Real Estate (Regulation and Development) Act, 2016, and its layout is approved. Management said some of its other forthcoming projects could spill into the following financial year.

The Shaheed Path project

The company's table of forthcoming projects lists Shaheed Path with 10,06,635 sq ft of saleable area on 7 acres. The company notes that saleable area stays tentative until layout approval. The project is awaiting final approval.

Price, unit types, a RERA registration number and a possession date are not yet announced for Eldeco Shaheed Path. Buyers cannot yet check the project on the Uttar Pradesh RERA portal. The company's separate Eldeco Hanging Gardens project, also on Amar Shaheed Path, is a different project that has already been launched. It should not be confused with this one.

Shaheed Path is a four-lane outer road, 23.55 km long, running from Transport Nagar to Chinhat. It was built to take traffic going to and from Kanpur Road and Ayodhya Road away from the older lanes of central Lucknow. The first stretch between Faizabad Road and Sultanpur Road opened to traffic on 8 June 2012. The Chaudhary Charan Singh International Airport is about 8.9 km away via NH 27, and Transport Nagar metro station is on Metro Line 1.

The Lucknow Development Authority announced a ₹315 crore, four-lane elevated flyover in November 2025, linking La Martiniere College to G-20 Road and the 1090 Crossing with Shaheed Path. The authority has not given a completion date in the material reviewed. The under-construction Awadh Expressway, which links Kanpur and Lucknow, begins on Shaheed Path. This article does not carry an opening date for it.

What the company's numbers show

• The company said its pipeline from ongoing, forthcoming and tied-up land could support about ₹5,500 crore of execution and revenue over the next five to six years. Management said this is not a formal gross development value forecast.
• Q2 FY27 revenue was ₹51.84 crore, up 56.85% year on year. Profit after tax for the quarter was ₹7.4 crore, up 180%.
• Booking value for the first half of FY27 fell 35.1% to ₹200.6 crore. In Q2 alone, booking value rose 7.8% to ₹94.9 crore. The company launched no new projects in Q2.
• The company delivered 125 units in Q2 FY27, covering about 1.57 lakh sq ft.

The company said its weighted average realisation across all projects was ₹7,840 per sq ft in Q2 FY27. That is a company-wide figure, not a price for Shaheed Path. Management said its demand sweet spot is homes priced from ₹1 crore to ₹3 crore.

What buyers and investors should watch

Buyers should wait for the final approval and the RERA registration number before committing money, and should check the registration on the Uttar Pradesh RERA portal once it is available. Investors should note that management said the timing is uncertain and that a material growth step-up is more likely from FY29 onward.

Next, watch for the final approval and RERA filing for Shaheed Path, and whether the launch happens before March 2027. The Lucknow Development Authority's GH-8 and GH-7 projects would follow about six months later, and management gave a September launch as an illustration if Shaheed Path goes first.