Shriram Properties Sets Ambitious Growth Targets, Aims to Triple Revenue and Double Sales by 2027
Shriram Properties plans to enter the Pune real estate market this year, with Bengaluru, Chennai, Kolkata, and Pune playing key roles in its growth. The company aims to double sales and triple revenue by 2027.
Shriram PropertiesReal EstatePune Real EstateMidmarket HousingSenior Retirement HomesReal Estate PuneSep 09, 2024
The company will focus on mid-market and mid-premium housing, with projects priced between INR 50 lakh and INR 1.5 crore. It plans to grow its annual sales from 4.5 million square feet in FY24 to 8-9 million square feet by 2027. Shriram Properties currently operates in Chennai, Bengaluru, Kolkata, Coimbatore, and Visakhapatnam, and plans to enter the Pune real estate market this year.
Bengaluru, Chennai, Kolkata, and Pune will play key roles in this growth. Shriram Properties Ltd aims to invest INR 2,000 crore in new projects, which will grow their project inventory from 42 million square feet to 62 million square feet. The company has already completed 42 projects in major cities and has another 42 planned.
In Chennai, Shriram Properties has developed over 7 million square feet in the last decade. The company recently reported a profit of INR 75 crore and a total income of INR 987 crore for the financial year 2023-24. Sales bookings hit a record INR 2,362 crore, up 28 per cent from the previous year.
As Shriram Properties enters a new growth phase, it is confident about meeting its goals. Chairman and Managing Director Murali Malayappan claimed the new brand identity will help make Shriram Properties LTD a market leader. Shriram Properties is expanding into new markets and exploring projects for senior retirement homes, which could create new opportunities and address the needs of an ageing population.
Shriram Properties Ltd is part of the Shriram Group, a leading financial services conglomerate in India.
Frequently Asked Questions
What are Shriram Properties' growth targets?
Shriram Properties aims to double sales and triple revenue within the next three years.
What is SPLNxT?
SPLNxT is the new brand launched by Shriram Properties, which aims to improve the company's reputation and attract more customers.
Where does Shriram Properties currently operate?
Shriram Properties currently operates in Chennai, Bengaluru, Kolkata, Coimbatore, and Visakhapatnam.
How much does Shriram Properties plan to invest in new projects?
Shriram Properties plans to invest INR 2,000 crore in new projects.
What is Shriram Properties' focus in terms of housing projects?
Shriram Properties will focus on mid-market and mid-premium housing, with projects priced between INR 50 lakh and INR 1.5 crore.
Related News Articles
Kolkata Sees Decline in Unsold Affordable Housing Stock and Rise in Luxury Inventory
Kolkata: In the period from 2024 to 2025, Kolkata experienced a significant decline in unsold affordable housing stock by 20%, while the luxury housing inventory saw a substantial increase of 96%. A recent real estate research provides insights into these trends and their implications for the local market.
ARPU Must Reach Rs 300: Rajan Bharti Mittal Discusses Moody's Rating Upgrade
Rajan Bharti Mittal, the chairman of Bharti Enterprises, has expressed his optimism about the company's future, particularly in the telecom sector. Mittal believes that the recent upgrade in Bharti's credit rating by Moody's is a testament to the company'
Unveiling the Dark Side: 5 Shocking Revelations from the Alexander Brothers' Real Estate Empire
Tal, Oren, and Alon Alexander, prominent figures in the real estate world, were arrested from their homes in Miami Beach on Wednesday, sparking a flurry of revelations about their alleged sexual abuse.
Maamla Legal Hai Sweeps Danube Properties Filmfare OTT Awards 2024 with Two Major Wins
At the 5th annual Danube Properties Filmfare OTT Awards 2024 held in Mumbai on December 1, the comedy series Maamla Legal Hai made a notable impact by securing two major awards. The series, produced by Posham Pa Pictures, won Best Comedy (Series/Specials)
Daily Current Affairs Updates: Global Food Regulators Summit 2024 and More
Get briefed on the latest current affairs, including the Global Food Regulators Summit 2024, Miss India Worldwide 2024, and Junior World Weightlifting Championship 2024.
Leopold Cafe Shines at SOS Nitelife Excellence Awards 2024
The prestigious event acknowledged remarkable achievements, supported by the Confederation of Real Estate and the Maharashtra Chamber of Housing.