Bengaluru-based realty developer Shriram Properties has announced plans to double its annual sales to Rs 5,000 crore by FY27. At a conference held here on Wednesday, the real estate player stated that it has set a goal to quadruple.
Its future project inventory from 18 million square feet to approximately 35-36 million square feet in the next 18 to 24 months.
The realtor aims to achieve cumulative sales exceeding 20 million square feet over the next three years, with a projected land value of Rs 2,000 crore. Of this, Rs 500 crore will come from SPL’s contributions.
The remainder will be generated through joint developments and development management, with adherence to an asset-light model.
The business projected that Bengaluru will provide 7-8 million square feet.
In three years, Chennai would supply 5–6 million, and Kolkata would supply 3–4 million. Pune would provide roughly 2 million square feet in the same period.
Furthermore, Shriram Properties has rebranded its logo with the 25th-year celebration, while embarking on a mission called SPLNxT.
The mission focuses on accelerating growth and repositioning the brand.
“We are embarking on a mission with a brand-new identity. It will allow us to create our own identity and elevate and re-position the trusted Shriram brand among NextGen buyers. We will leverage technology for enhanced customer delight going forward. We envision SPL as a dominant force not only in South India but across our key markets,” said Murali Malayappan, Chairman and Managing.
Director of Shriram Properties Limited. The company anticipates achieving tremendous growth under the SPLNxT strategy over the next three years. The focus has been placed on the tripling of revenue, the doubling of sales, and the quadrupling of profits, with the aim of achieving cumulative sales of over 20 million square feet. Bengaluru, Chennai, and Pune have been identified as the key markets.
While Kolkata remains a crucial contributor. SPL will leverage its time-tested operating platform for accelerated sales and expedited execution. Furthermore, to fuel this growth, Shriram Properties intends to ramp up new project additions in its core markets, aiming to more than double its project inventory. Currently, SPL has a pipeline of 42 projects with a total development potential of 42 million square feet.
The residential sector outlook remains robust, driven by rising income, home ownership aspirations, low interest rates.
And demographic shifts like the surge in millennial home buyers. Mid-market segments have shown resilience and growth in recent years. The driven by urbanisation, changing preferences, work-from-home influence, and favourable interest rates,” said Gopalakrishnan, ED and Group CEO, Shriram Properties.
Furthermore, the business asserts that in three years, it will acquire over 20,000 new clients.. It currently has about 28,000 customers, including 11,000 customers in ongoing projects.
Since the introduction of RERA in the last seven years, Shriram Properties has achieved remarkable scale expansion, with its sales volume growing close to three times to 4.6 million square feet, sales value growing five times to Rs 2,362 crore, and annual handovers jumping quadruple to over 3,000 units in FY24.
