Shriram Properties Enters Pune Market with New 6-Acre Development Deal.

Shriram Properties Limited (SPL) has announced its expansion into Pune with a Joint Development Agreement for a 6-acre land parcel in Undri. This new project is expected to generate revenue of ₹700-750 crore, featuring over 650 apartments and retail/commercial spaces, spanning a saleable area of more than 10 lakh square feet. The launch is planned for the second half of FY25, with completion targeted within four years.

SPL is also finalizing rights for an additional 8-acre site in Pune, which will focus on retail and commercial development. Chairman and Managing Director Murali Malayappan highlighted Pune’s residential market potential, noting its similarities to SPL’s core markets of Bangalore and Chennai.

With a current pipeline of 42 projects totaling 42 million square feet of saleable area, including 26 ongoing projects, SPL reported 75% of its ongoing projects sold as of June 2024, and no unsold inventory in completed developments. The company has already delivered over 44 projects across Bangalore, Chennai, and Kolkata, covering 24 million square feet.

HBL