Shriram Properties' Stock Jumps 2.9% After Acquisition of 4-Acre Land Parcel in Bengaluru

Shriram Properties Ltd (SPL), a leading real estate developer, has announced the acquisition of a 4-acre land parcel in Chandapura, Bengaluru, signaling a significant expansion in one of the city’s key micro-markets.

According to the company's statement, the project on this land has a revenue potential exceeding ₹250 crore, with plans for development over the next three years. SPL intends to launch the project during the 2025 fiscal year.

Murali Malayappan, Chairman & Managing Director of SPL, stated, "This strategic investment aligns perfectly with our goal of bolstering our presence in Bengaluru, one of our core markets. Chandapura emerges as a vital micro-market with an anticipated surge in demand from the mid-market segment in the foreseeable future."

The acquisition is part of SPL's broader strategy to strengthen its footprint in Bengaluru, leveraging the city's growing demand for residential and commercial real estate. Chandapura's location and infrastructure development have made it an attractive area for real estate investment, with potential for robust growth in the coming years.

With this latest acquisition, SPL continues to position itself as a key player in Bengaluru's real estate market, aiming to capitalize on the city's expanding economy and the increasing demand for quality housing in emerging neighborhoods like Chandapura.

HBL