Shriram Properties Ltd, a division of the Shriram Group, plans to boost its sales and revenue over the next three years. They are focusing on mid-market housing projects and aim to double their sales and triple their revenue. The company has launched a new brand identity called SPLNxT to improve its image. Shriram Properties will invest INR 2,000 crore in new projects and expand their inventory. They are also planning to enter the Pune market and continue their strong presence in Chennai. Additionally, they will look into projects for senior retirement homes.
Shriram Properties Ltd, part of the Shriram Group, is planning major changes to grow its business. The real estate company wants to expand quickly over the next three years. Their goals are to double sales and triple revenue. To reach these goals, Shriram Properties has launched a new brand called SPLNxT. It is basically short for Shriram Properties Ltd Next. This new image aims to improve the company's reputation and attract more customers. Executive Director and Group CEO Gopalakrishnan announced this change.
The company will focus on mid-market and mid-premium housing, with projects priced between INR 50 lakh and INR 1.5 crore. It plans to grow its annual sales from 4.5 million square feet in FY24 to 8-9 million square feet by 2027. The company currently operates in Chennai, Bengaluru, Kolkata, Coimbatore, and Visakhapatnam. It also plans to enter the Pune real estate market this year. Bengaluru, Chennai, Kolkata, and Pune will play key roles in this growth.
Shriram Properties Ltd aims to invest INR 2,000 crore in new projects. This will grow their project inventory from 42 million square feet to 62 million square feet. They have already completed 42 projects in major cities and have another 42 planned. In Chennai, they have developed over 7 million square feet in the last decade.
The company recently reported a profit of INR 75 crore and a total income of INR 987 crore for the financial year 2023-24. Sales bookings hit a record INR 2,362 crore, up 28 per cent from the previous year. As Shriram Properties enters a new growth phase, it is confident about meeting its goals. Chairman and Managing Director Murali Malayappan claimed the new brand identity will help make Shriram Properties LTD a market leader. Shriram Properties is expanding into new markets and exploring projects for senior retirement homes. This could create new opportunities and address the needs of an ageing population.
Shriram Properties Ltd is embarking on an ambitious growth strategy, aiming to double sales and triple revenue within three years through the launch of its new brand, SPLNxT. By focusing on mid-market and mid-premium housing, expanding its geographic footprint, and investing INR 2,000 crore in new projects, the company seeks to significantly increase its project inventory and market presence. With a solid track record and recent financial successes, Shriram Properties is poised to become a market leader, leveraging new opportunities in emerging markets and senior retirement homes to drive its future growth.
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