Shriram Properties Expands Portfolio with New Bengaluru Project

Shriram Properties announced a new housing project in Bengaluru, expected to generate over Rs 350 crore in revenue. The company signed a Joint Development Agreement for a 5-acre site on Bannerghatta Road to develop a villament community. The project will launch this fiscal year, bolstering their mid-premium segment.

Shriram Properties has unveiled plans for a significant new housing project in Bengaluru, with anticipated revenues exceeding Rs 350 crore. Announced on Monday, the realty firm revealed it has entered a Joint Development Agreement for a 5-acre plot on Bannerghatta Road.

The project will see the creation of an exclusive villament community, delivering an estimated Gross Development Value (GDV) of over Rs 350 crore. Scheduled to launch this fiscal year, it promises to enhance the company's already substantial mid-premium housing portfolio in the city.

Shriram Properties Ltd, a major player in India's real estate market, has developed 48 projects across 28.3 million square feet, predominantly in Bengaluru and Chennai. This new venture reaffirms its commitment to expanding its footprint in the region.

(With inputs from agencies.)