Royal Green

EXECUTIVE SUMMARY

Royal Green is an active real estate brand founded in 2020 and headquartered in Gurugram. It operates across residential, commercial and industrial development, with projects in Gurugram, Bahadurgarh, Sonipat, Indore and other growth markets. The business presents itself as backed by ADS Spirits and the Premsakhi Group, combining two established family-business platforms with a relatively young real estate organisation.

In Gurugram, Royal Green is associated with Royal Green Heights in Sector 62 and Courtyard 37D in Sector 37D. Buyers should note that Royal Green is a brand, while individual projects are registered under separate promoter entities. Haryana RERA identifies Synergyshine Infra LLP, in collaboration with Gulmohar Finance Limited, for Royal Green Heights and Eternal Housing Infra LLP for Courtyard 37D.

KEY PERFORMANCE METRICS

• Established: 2020

• Headquarters: Sector 54, Gurugram

• Core markets: Gurugram, Bahadurgarh, Sonipat, Indore and Haryana industrial locations

• Main segments: Residential apartments, plotted developments, shop-cum-office plots and industrial projects

• Gurugram RERA-linked projects: Royal Green Heights and Courtyard 37D

• Royal Green Heights: About 5.7875 acres, five residential towers, 800 dwelling units and 148 commercial units

• Courtyard 37D: About 2.2 acres in Sector 37D, with SCO-format commercial plots

• Royal Green Heights stated possession: 2026

• Courtyard 37D stated possession: 2025, with the developer website describing it as under construction and sold out

IMPORTANT CAVEAT

Royal Green is not itself the legal promoter name shown for every project. A Haryana RERA order concerning Royal Green Heights expressly records Royal Green Realty as the brand name of Synergyshine Infra LLP rather than a separate legal entity. Courtyard 37D is registered to Eternal Housing Infra LLP. Buyers must therefore verify the exact promoter, registration number, sanctioned plans, escrow details, completion date and agreement terms for the specific phase being considered.

COMPANY OVERVIEW AND CORPORATE STRUCTURE

Royal Green Realty describes itself as a new-age development platform backed by ADS Spirits and the Premsakhi Group. Its corporate office is listed at Emaar Palmsprings Plaza, Sector 54, Gurugram. The brand follows a multi-entity development model in which landholding, collaboration and project execution can sit with different LLPs or companies.

SISTER COMPANIES AND GROUP ENTITIES

The brand publicly links its heritage to ADS Spirits and the Premsakhi Group. Project-level entities visible in Gurugram include Synergyshine Infra LLP, Gulmohar Finance Limited and Eternal Housing Infra LLP. These entities should not be assumed to provide cross-project guarantees unless this is expressly stated in contractual documents.

LEADERSHIP AND MANAGEMENT

Royal Green publicly identifies Rajesh Makhija and Sikander Maan as chairmen and promoters, Yashank Wason as Managing Director and Varun Kumar Makhija as Director. The management combines family-business experience with construction and real estate operating experience. Buyers should still evaluate execution at the project-entity level.

PROJECT PORTFOLIO ANALYSIS

The portfolio spans affordable and mid-market housing, plotted communities, SCO commercial developments and industrial projects. Gurugram exposure is concentrated along Golf Course Extension Road and the Dwarka Expressway growth corridor, while other projects broaden the platform across Haryana and central India.

A. DELIVERED / OPERATIONAL LANDMARKS

The company website presents Royal Green Homes in Bahadurgarh as a completed residential development. Publicly available information on consolidated handover volumes and independently verified delivery timelines remains limited, reflecting the brand's short operating history.

B. KEY ONGOING AND RECENTLY LAUNCHED PROJECTS

Royal Green Heights is an affordable group housing project in Sector 62, Gurugram. Haryana RERA records about 5.7875 acres, five residential towers, 800 dwelling units and two commercial blocks with 148 commercial units. The website describes 2BHK and 3BHK apartments, a sold-out status and possession targeted for 2026.

Courtyard 37D is an SCO project near Dwarka Expressway in Sector 37D. The current registration is held by Eternal Housing Infra LLP. The original 2023 registration was superseded by registration number 25 of 2024, an important point when verifying documents.

C. PIPELINE

Royal Green markets residential and plotted developments in Bahadurgarh, Sonipat and Indore, Courtyard 62 in Gurugram and an industrial park in Mattan. Its stated footprint signals geographic expansion, but each opportunity should be assessed independently for approvals, funding and delivery capacity.

FINANCIAL ANALYSIS

Royal Green is privately held and does not publish listed-company style consolidated financial statements, presales, collections, debt or cash balances. Financial assessment should therefore rely on the audited statements and encumbrance disclosures of the specific promoter entity, together with quarterly RERA construction and collection updates.

CREDIT RATING AND LIQUIDITY

No widely available consolidated credit rating for the Royal Green brand was identified. Liquidity cannot be inferred from the legacy businesses associated with the promoters. Buyers should review lender charges, project escrow compliance, construction-linked collections and the promoter's disclosed funding plan.

MARKET POSITION AND COMPETITIVE ANALYSIS

Royal Green occupies an emerging-developer position rather than the institutional scale of Gurugram's largest listed builders. Its competitive appeal comes from corridor selection, affordable housing exposure, SCO products and backing claimed from established business groups. Its main challenge is proving repeatable delivery across a fast-expanding portfolio.

REGULATORY COMPLIANCE AND LEGAL STATUS

Royal Green Heights is registered under Haryana RERA to Synergyshine Infra LLP in collaboration with Gulmohar Finance Limited. Courtyard 37D is registered to Eternal Housing Infra LLP, whose RERA certificate records active status. The supersession of Courtyard 37D's earlier registration makes use of the current certificate essential.

CUSTOMER PERSPECTIVE

Royal Green markets connected locations, planned amenities and value-oriented products. Public customer evidence is less extensive than for older NCR developers. Prospective buyers should visit the site, speak with existing allottees and compare promised milestones against physical progress and quarterly RERA filings.

RISK ASSESSMENT

The central risk is the gap between a growing brand portfolio and a comparatively short delivery record. Project-level legal entities, phased registrations and varying asset classes add due-diligence complexity.

A. OPERATIONAL RISKS

• Simultaneous execution across several cities and product types

• Dependence on contractors, approvals and infrastructure delivery

• Limited long-cycle completion history under the present brand

B. FINANCIAL RISKS

• No consolidated public disclosure of debt, cash and collections

• Potential dependence on project sales and customer-linked cash flow

• Entity-level liabilities may not be visible from brand marketing

C. LEGAL AND GOVERNANCE RISKS

• Different legal promoters across projects

• Collaboration structures may divide landowner and developer obligations

• Superseded or phase-specific registrations can cause document confusion

BEST PRACTICE FOR BUYERS

Confirm the current RERA registration and promoter name, obtain the sanctioned plan and allotment documents, verify land title and lender charges, inspect construction progress and ensure every commercial promise appears in the agreement for sale. Payments should go only to the disclosed project account through documented channels.

FUTURE OUTLOOK AND STRATEGIC DIRECTION

Royal Green's opportunity lies in converting its early Gurugram and Bahadurgarh projects into a credible delivery record while expanding plotted, SCO and industrial formats. Successful completion of Royal Green Heights and Courtyard 37D would materially strengthen confidence in the brand.

INVESTMENT AND BUYER THESIS

Royal Green offers exposure to developing NCR corridors through relatively differentiated affordable housing and SCO products. The proposition is suitable only after project-specific legal, construction and financial checks because brand-level disclosures remain limited.

A. STRENGTHS

• Presence in high-growth Gurugram corridors

• Diversified residential, commercial and industrial pipeline

• Promoter backing from established non-real-estate businesses

• Clearly identified leadership team and operating office

B. CONCERNS

• Young brand with limited independently verified delivery history

• Multiple project entities complicate accountability

• Limited consolidated financial transparency

• Under-construction concentration creates execution risk

C. OPPORTUNITIES

• Demand around Dwarka Expressway and Golf Course Extension Road

• Growth in SCO, plotted and affordable formats

• Expansion into Sonipat, Bahadurgarh and Indore

• Reputation upside from timely delivery of current projects

D. WATCHPOINTS

Track Royal Green Heights construction against its 2026 timeline, confirm the live Courtyard 37D registration, review quarterly RERA updates and monitor whether geographic expansion outpaces management and funding capacity.

CONCLUSION

Royal Green is an active, emerging real estate brand with a growing multi-city portfolio and meaningful Gurugram exposure. Its locations and product mix are attractive, but buyers should distinguish the brand from each legal promoter and place greater weight on RERA records, contractual obligations and verified construction progress than on group-level positioning.

DISCLAIMER

This report is based on publicly available information only. It is intended for due-diligence and research purposes, not investment advice. All financial metrics, project statuses, legal proceedings, and regulatory information are point-in-time and may change. Buyers and investors should independently verify all information from official RERA portals, company filings, court records, rating reports, and legal advisors before making any decision.