Shriram Properties Aims to Triple Revenues in Three Years with Mid-Segment Focus
Shriram Properties to focus on mid-segment housing, aims to triple revenues, double sales volume in three years, forays into Pune real estate market.
Shriram PropertiesReal EstateMidsegment HousingPune Real Estate MarketChennai Real Estate MarketReal Estate PuneAug 30, 2024
As the company celebrates its silver jubilee year, it has completed over 42 projects across key cities and has another 42 new projects in the pipeline. Executive Director and Group CEO Gopalakrishnan revealed that the company turned profitable last financial year, reporting a profit of Rs 75 crore.
Going forward, Shriram Properties will focus predominantly on mid-segments, including 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). The company aims to double its sales volume and triple its revenues over the next three years.
To achieve this, Shriram Properties will scale up its annual sales from 4.5 million square feet in FY24 to 8-9 million square feet by 2027. The company will also foray into the Pune real estate market this year, marking its entry into a new geography.
Currently, Shriram Properties has a presence in Chennai, Bengaluru, Kolkata, Visakhapatnam, and Coimbatore. The company has committed investments of Rs 2,000 crore for its upcoming projects, which will take its overall project inventory to 62 million sq ft from the current 42 million sq ft.
In Chennai, where Shriram Properties has had a strong presence for over two decades, the company has completed six projects with more than 7 million sq ft of development in the last 10 years. The company is also exploring opportunities in senior retirement homes.
With its new brand identity and focus on mid-segments, Shriram Properties is poised to make a significant impact in the real estate market.
Information
Shriram Properties Ltd is a part of the diversified conglomerate Shriram Group. The company has a strong presence in the real estate market, with a focus on mid-segments.Shriram Group is a leading conglomerate with interests in finance, insurance, and real estate.
Frequently Asked Questions
What is Shriram Properties' new brand identity?
Shriram Properties has launched a new brand identity called SPLNxT.
What is Shriram Properties' focus area in the real estate market?
Shriram Properties will focus predominantly on mid-segments, including mid-market and mid-market premium.
What are Shriram Properties' expansion plans?
Shriram Properties will foray into the Pune real estate market this year and scale up its annual sales to 8-9 million square feet by 2027.
What is Shriram Properties' investment plan for upcoming projects?
Shriram Properties has committed investments of Rs 2,000 crore for its upcoming projects.
What is Shriram Properties' presence in the Chennai real estate market?
Shriram Properties has a strong presence in Chennai, with six completed projects and more than 7 million sq ft of development in the last 10 years.
Tags:
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