Shriram Properties Acquires 4-Acre Land, Aims for ₹250+ Cr Revenue

 

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Synopsis:

Shriram Properties Ltd (SPL) has acquired a four-acre land parcel in Bengaluru's Electronic City corridor to develop a residential project comprising around 350 apartments. The project, spread over approximately 4 lakh square feet, is anticipated to generate revenue of over ₹250 crore. Along with this and 47 projects in the pipeline, SPL aims to tap into the growing demand from the mid-market segment. The company plans to launch the project during the current financial year and anticipates significant demand driven by the proximity to tech parks, corporate hubs, and robust social infrastructure in the area.

Shriram Properties News Today

Bengaluru-based real estate developer Shriram Properties Ltd (SPL) has acquired a four-acre land parcel in the southern IT corridor of Electronic City. The acquisition aligns with SPL's goal of strengthening its presence in Bengaluru, one of its core markets.

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Project Details and Timeline

SPL plans to develop a residential project spanning approximately 4 lakh square feet, comprising around 350 apartments. SPL aims to launch the project during the current financial year (FY25), leveraging its expertise in delivering high-quality residential developments. The project, expected to be completed over the next three years, holds a revenue potential exceeding ₹250 crore. 

Market Outlook and Growth Prospects

Chandapura, where the project is located, is emerging as a vital micro-market with anticipated demand from the mid-market segment. SPL anticipates sustained demand driven by the influence of the IT and ITeS sectors, which traditionally fuel real estate demand.

Expansion Strategy

With 47 projects in its pipeline and a focus on mid-market and affordable housing categories, SPL has a significant presence in southern states, particularly in Bengaluru, Chennai, and Kolkata. These markets collectively contribute to approximately 85% of the company’s development activities.

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