Shriram Properties, a leading real estate developer, has announced plans to invest approximately ₹750 crore in its ongoing and new residential projects during the fiscal year 2024. The investment aims to capitalize on the robust housing demand and further expand the company’s business. In the previous financial year, Shriram Properties had allocated ₹500 crore for construction works.
M Murali, Chairman and Managing Director of Shriram Properties, emphasized the company’s strong performance in the last fiscal year. Sales bookings witnessed an impressive growth of 25%, reaching an all-time high of ₹1,846 crore, driven by increased volumes and improved price realization. Building on this success, Shriram Properties has set ambitious targets for the current fiscal year.
When asked about the sales bookings target for this fiscal year, Murali stated, “We are aiming for approximately 20% growth in terms of volume and 25% growth in terms of value.” Notably, the sales volumes for the previous fiscal year reached a record-breaking 4.02 million square feet, surpassing the 3.8 million square feet achieved in 2021-22.
Shriram Properties has consistently focused on delivering high-quality residential projects and has gained a strong reputation in the real estate market. The company’s commitment to customer satisfaction and timely project completion has played a pivotal role in its remarkable growth and success.
The planned investment of ₹750 crore in ongoing and new projects reflects Shriram Properties’ confidence in the market’s potential and its commitment to meeting the rising demand for quality housing. The funds will primarily be utilized for the construction and development of residential properties, ensuring the timely delivery of projects to customers.
The real estate developer Shriram Properties is set to invest a substantial amount of ₹750 crore in its ongoing projects during the fiscal year 2024. This strategic move comes as the company aims to capitalize on the strong demand for housing and further expand its business operations. In the previous financial year, Shriram Properties had already allocated ₹500 crore towards construction works, showcasing its commitment to growth and development.
Bengaluru-based Shriram Properties has been a trusted name in the real estate industry, known for its innovative designs, sustainable practices, and adherence to strict quality standards. The company has successfully catered to the evolving needs of homebuyers, offering a diverse portfolio of residential properties across various segments.
Shriram Properties’ investment in ongoing projects signifies its strategic approach to business expansion and capitalizing on favorable market conditions. The realtor aims to leverage the strong demand for housing and fulfill the aspirations of homebuyers by providing them with thoughtfully designed, well-constructed, and affordable homes.
The Indian real estate sector has been witnessing a revival, with increased buyer confidence and government initiatives promoting affordable housing. Shriram Properties is well-positioned to capitalize on these positive market dynamics and further strengthen its market presence.
The investment of ₹750 crore in ongoing projects aligns with Shriram Properties’ long-term growth strategy, which emphasizes sustainable development, customer-centricity, and operational excellence. The company’s commitment to delivering quality homes, coupled with its robust financial position, positions it for continued success in the highly competitive real estate market.
As Shriram Properties embarks on its expansion journey in the fiscal year 2024, the focus on timely project execution, adherence to regulatory norms, and customer satisfaction will remain paramount. By investing in ongoing projects, the company aims to meet the growing housing demand, contribute to the development of vibrant communities, and create lasting value for its stakeholders.
In conclusion, Shriram Properties’ decision to invest ₹750 crore in ongoing projects reflects its confidence in the market’s potential and its commitment to meeting the housing needs of customers. With a track record of delivering quality residential properties, the company is poised to leverage the strong housing demand and continue its growth trajectory in the real estate sector.
