Shriram Properties Targets ₹5,000 Crore Sales by FY27 with Mid-Income Housing Push
Shriram Properties aims to double sales to ₹5,000 crore by FY27, driven by mid-income housing demand and consolidation in the real estate sector.
Shriram PropertiesMidincome HousingReal EstateFy27Sales TargetReal Estate NewsAug 21, 2024
By FY27, the real estate firm plans to deliver around 15-16 million sq ft of residential projects with an annual sales of ₹5,000 crore. Shriram Properties, which has entered into its twenty-fifth year of operations, develops projects in Bengaluru, Chennai and Kolkata. It is also venturing into a new property market—Pune.
“We believe the opportunity that lies ahead of us is phenomenal, led by the demand for housing and the consolidation among developers,” M. Murali, chairman and managing director of Shriram Properties, said at a press conference on Wednesday.
In FY25, the company plans to deliver nearly 3.5 million sq. ft of residential projects. Shriram bets on mid-market expansion, which has seen a significant uptick in sales in the aftermath of the pandemic. While luxury project sales have picked up considerably, it is the mid-market segment of homes where sales have been maximum across the top cities.
Currently, the developer has a pipeline of 42 projects, with around 42 million sq ft of development potential. Of this, nearly 24 million sq ft of project construction is going on. On Wednesday, Shriram Properties also unveiled a new brand identity under the name ‘SPLNxT’, to focus on mid-market and mid-premium projects.
It sells homes priced between ₹50 lakh and ₹1.25 crore in the mid-income category, and above ₹1.25 crore under the mid-premium range of home. More than 50% of its portfolio is in the mid-market range. Going forward, the company is also planning to use technology more efficiently to support both customers, and channel partners as well as internally within the company.
Information Shriram Properties Ltd is a Bengaluru-based real estate developer that has been in operation for 25 years. The company develops projects in Bengaluru, Chennai, Kolkata, and Pune.
Shriram Properties Ltd is a leading real estate developer in India, known for its mid-income and mid-premium housing projects. With a pipeline of 42 projects and a development potential of 42 million sq ft, the company is well-positioned to capitalize on the growing demand for housing in India.
Frequently Asked Questions
What is Shriram Properties' sales target for FY27?
₹5,000 crore
What is driving Shriram Properties' sales growth?
Robust mid-income housing sales and consolidation in the real estate sector
How many projects does Shriram Properties have in its pipeline?
42 projects with around 42 million sq ft of development potential
What is Shriram Properties' mid-market range of homes?
Homes priced between ₹50 lakh and ₹1.25 crore
What is Shriram Properties' new brand identity?
SPLNxT, which focuses on mid-market and mid-premium projects
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