Bengaluru-based Shriram Properties unravels Rs 2000-crore projects' plan

Bengaluru: With ambitions to triple its income and quadruple it bottomline, Bengaluru-based realtor Shriram Properties Limited (SPL) has rolled out a Rs 2000-crore investment plan, which will be pitched partly by it and also through strategic partnerships. Of this, Rs 1,000 core will be invested in buying land in Bengaluru.

Speaking to media on Wednesday, Gopalakrishnan J, Executive Director and Group CEO, shared his company’s aspiration to have its sales touch Rs 5,000 crore, its income Rs 3,000 crore and profits over Rs 250 crore by FY27.

To this end, the company will invest Rs 500 crore and also execute projects through partnership such as joint development agreements (JDAs) and other joint ventures. In total, the company is looking to be able to sell 20 million square feet (msf) of realty across Bengaluru, Chennai and Pune (a market it is looking to enter). Of this 8-9 msf will be in Bengaluru.

Murali Malayappan, Chairman & Managing Director of Shriram Properties Limited, said, "We are embarking on a mission with a brand-new identity (SPLNxT), as we enter the 25th year of our operations.”

The company reiterated its focus on mid-market and mid-market premium segments of the residential real estate markets in Bengaluru, Chennai and Kolkata, as well as Pune.