Shriram Properties Aims to Double Sales and Triple Revenue by 2027
Shriram Properties Ltd plans to focus on mid-segments, launch new projects in Pune and Chennai, and commit investments of Rs 2,000 crore to achieve its ambitious targets.
Shriram PropertiesReal EstateMidsegment HousingPuneChennaiReal Estate PuneAug 30, 2024
The company has rolled out a new brand identity SPLNxT, which aims to transform the perception of Shriram Properties Ltd and elevate its brand image. Executive Director and Group CEO Gopalakrishnan said that the year 2024 marks the silver jubilee year for the real estate entity, which has completed over 42 projects across key cities and has another 42 new projects in the pipeline.
Gopalakrishnan noted that the company turned profitable last financial year and reported a profit of Rs 75 crore. Going forward, the company would predominantly focus on mid-segments, both mid-market (Rs 50 lakh to Rs 1 crore worth of projects) and mid-market premium (projects worth Rs 1 crore and above up to Rs 1.50 crore).
Detailing the upcoming projects, Gopalakrishnan said that the company would scale up annual sales from 4.5 million square feet in FY24 to 8-9 million square feet by 2027. The company would also foray into the Pune real estate market this year, in addition to its existing presence in Chennai, Bengaluru, Kolkata, Visakhapatnam, and Coimbatore.Shriram Properties Ltd Chairman and Managing Director Murali M said that the company executed its first project in Chennai in 2006, the 'Shriram Gateway' at Perungalathur, which is the largest project for the real estate industry in Tamil Nadu. The company aims to add 6-8 million sq ft of projects in the pipeline over the next two years in Chennai, involving a capital commitment of Rs 800-Rs 1,000 crores.
Gopalakrishnan said that the company would commit investments of Rs 2,000 crore for the upcoming projects, which would take the overall project inventory to 62 million sq ft from the current 42 million sq ft. The company would also explore opportunities for senior retirement homes\or Chennai, Shriram Properties is launching three new projects -- 'Pudiya Chennai' near Thirumazhisai, 'Jackpot' near Shriram OneCity at Valarpuram, and '24 Carat'. The company will invest Rs 400 crore on construction of these projects over the next three years and expects construction spending of over Rs 750 crore across all its projects in Chennai.
Shriram Properties Ltd is a part of the Shriram Group, a diversified conglomerate with interests in real estate, finance, and other sectors. The company has a strong presence in the real estate industry, with over 42 completed projects across key cities. Shriram Group is a diversified conglomerate with interests in real estate, finance, and other sectors. The group has a strong presence in the real estate industry through its subsidiary, Shriram Properties Ltd.
Frequently Asked Questions
What are the targets set by Shriram Properties Ltd for the next three years?
The company aims to double its sales volume, triple its revenues, and quadruple its profits.
What is the new brand identity launched by Shriram Properties Ltd?
The company has rolled out a new brand identity SPLNxT, which aims to transform the perception of Shriram Properties Ltd and elevate its brand image.
What is the focus area for Shriram Properties Ltd going forward?
The company would predominantly focus on mid-segments, both mid-market (Rs 50 lakh to Rs 1 crore worth of projects) and mid-market premium (projects worth Rs 1 crore and above up to Rs 1.50 crore).
How many new projects is Shriram Properties Ltd planning to launch in Chennai?
The company is launching three new projects -- 'Pudiya Chennai' near Thirumazhisai, 'Jackpot' near Shriram OneCity at Valarpuram, and '24 Carat'.
What is the investment commitment made by Shriram Properties Ltd for the upcoming projects?
The company would commit investments of Rs 2,000 crore for the upcoming projects, which would take the overall project inventory to 62 million sq ft from the current 42 million sq ft.
Related News Articles
Keystone Realtors Raises Rs 800 Crore from Institutional Investors
Mumbai-based Keystone Realtors has raised Rs 800 crore by selling shares to institutional investors
Kerala Police Hand Over Mami Missing Case to Crime Branch to Avoid CBI Probe
The Kerala police have handed over the missing case of Mohammad Attur, a prominent real estate businessman, to the Crime Branch to prevent a CBI investigation.
Home Sales in Noida and Greater Noida Increase by 6% in Q3 2024
The residential property market in Noida and Greater Noida witnessed a 6% surge in registrations during the July-September quarter, with a total of 8,128 units sold, according to real estate consultant Square Yards.
Mumbai Real Estate Market Sees Significant Growth in 2024 with 1.41 Lakh Registrations
Mumbai's real estate market is on track to register 1,41,302 property registrations in 2024, marking an 11% increase from the previous year. The market is showing resilience and a growing preference for premium and spacious homes.
2025 Outlook: The Future of Commercial Real Estate in Tier-II and Tier-III Cities
In 2025, we can expect a significant rise in commercial real estate activity in Tier-II and Tier-III cities across India, driven by factors such as low operating costs, ample space, skilled talent, and infrastructure development.
Maharashtra's Transport Minister Pratap Sarnaik Invites CREDAI to Develop MSRTC Land
The Maharashtra Transport Minister, Pratap Sarnaik, has called on the Confederation of Real Estate Developers’ Associations of India (CREDAI) to participate in the development of 1,360 hectares of land owned by the Maharashtra State Road Transport Corpora