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
Blox Takes a 11% Stake in Real Estate Brokerage Firm Guardians for $12 Million
New Delhi, Nov 12 (PTI) Digital real estate platform Blox has secured an 11% stake in real estate brokerage firm Guardians for a significant investment of $12 million.
Kartik Aaryan Expands Real Estate Empire in Mumbai Amid Rs 50 Crore Film Fee Rumors
Bollywood star Kartik Aaryan is not just shining bright in the film industry but is also making smart investments in the real estate market. With reports of a Rs 50 crore fee for his next film, he adds two luxurious properties in Mumbai to his portfolio.
India's Commercial Real Estate Embraces Green Spaces: A Sustainable Shift
India's commercial real estate (CRE) sector is witnessing a significant transformation as sustainable and eco-friendly workspaces become increasingly popular. The demand for green buildings is on the rise, driven by both environmental consciousness and th
Thinking of Buying Land? How to Avoid Scams and Legal Traps That Could Cost You Crores
Buying land can be a lucrative investment, but it also comes with significant risks. Learn how to avoid common scams and legal pitfalls to ensure your investment is secure.
Viral Video: Man Caught Urinating on Pune Road After Exiting BMW
A video of a man urinating on a road in Pune after getting out of his BMW has sparked outrage and gone viral on social media. One individual has been detained in connection with the incident.
M2K Group: Redefining Real Estate, Biologicals, and Multiplexes in India
Explore how M2K Group is revolutionizing the Indian market with cutting-edge developments in real estate, biologicals, and multiplexes. Discover the innovative strategies and forward-thinking leadership behind this dynamic company.