Shriram Properties Expands Footprint in Bengaluru with New Land Acquisition

Shriram Properties has acquired a 5-acre land parcel in Yelahanka, North Bengaluru, with plans to develop a premium residential project expected to generate revenue worth Rs 250 crore. This strategic investment is aimed at strengthening the company's presence in a region showing significant growth potential.

Real estate firm Shriram Properties has announced the acquisition of a 5-acre land parcel in Yelahanka, North Bengaluru, for a new housing project. The development promises a revenue potential of Rs 250 crore, according to a statement made in a regulatory filing on Wednesday.

The company plans to utilize this prime land to build a premium residential complex featuring row houses or villas over the next three years, aiming for a project launch in the second half of the fiscal year 2025-2026. The gross development value is estimated to be between Rs 200-250 crore.

Gopalakrishnan J, CEO of Shriram Properties, highlighted that the acquisition aligns with the company's strategy to solidify its brand presence in the North Bengaluru market, an area with notable growth prospects. Shriram Properties has thus far completed 48 projects with a saleable area of 26.5 million square feet, predominantly in Bengaluru and Chennai.

(With inputs from agencies.)