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.
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