Shriram Properties signs a prime land parcel in Chennai, 400 crores revenue potential
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Shriram Properties Limited (“SPL”), has signed a Joint Development Agreement (“JDA”) to develop a prime land at Koyambedu – a prominent micro market in Chennai’s urban renaissance, offering strategic advantages and economic vibrancy.
The Company plans to develop a premium residential complex with an aggregate saleable area of 3.2 lakh sqft, to be developed over the next 3 years. The project is expected to have an aggregate revenue potential of approx. ₹350 – ₹400 crores and is being targeted for launch during early FY26.
This project acquisition is an integral part of SPL’s pursuit of accelerated growth, whilst remaining asset-light. The project will further fortify its strong project pipeline and support growth momentum going forward.
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Mr. Murali Malayappan, CMD of SPL, said, “This investment aligns with our asset-light strategy to drive accelerated growth. Chennai presents a promising market with immense potential for established brands like Shriram. This micro market is well established and a hotspot of prime developments. We are looking forward to its launch in early next financial year and remain committed to delivering top-notch quality and utmost satisfaction for our customers”
