Shriram Properties Shifts Focus to Mid-Market and Premium Segments
Real estate developer Shriram Properties aims to boost its presence in mid-market and mid-premium segments in Bengaluru, Chennai, and Kolkata, with plans to enter Pune soon.
Shriram PropertiesMidmarketPremium SegmentsResidential Real EstateBengaluruReal Estate NewsAug 21, 2024
The company aims to achieve leadership in the mid-market and mid-premium segments over the next decade and has set ambitious targets to double its sales, triple its revenue, and quadruple its profits over the next three years. To achieve this, SPL is targeting cumulative sales of over 20 million square feet, with a focus on Bengaluru, Chennai, and Pune.
Currently, SPL has a project pipeline of 42 projects with 42 million square feet of development potential. Of this, 24 million square feet is ongoing, and the remaining 18 million square feet of development potential vests in future projects. The company plans to double this future project inventory in the next 18-24 months.
Frequently Asked Questions
What is Shriram Properties' new brand identity?
Shriram Properties has announced a new brand identity - SPLNxT - to mark its shift in strategy towards mid-market and mid-premium segments.
What are Shriram Properties' targets for the next three years?
Shriram Properties aims to double its sales, triple its revenue, and quadruple its profits over the next three years.
What is the current project pipeline of Shriram Properties?
Shriram Properties has a project pipeline of 42 projects with 42 million square feet of development potential.
What is the focus of Shriram Properties' new strategy?
Shriram Properties is focusing on mid-market and mid-premium segments of the residential real estate markets in Bengaluru, Chennai, and Kolkata, with plans to enter Pune soon.
How has Shriram Properties performed since the introduction of RERA?
Since the introduction of RERA, Shriram Properties' sales volume has grown 3.5x to 4.6 million square feet, and sales value has grown 5x to Rs 2,362 crores, with annual handovers jumping 4x to over 3,000 units in FY24.
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