Real estate developer Shriram Properties Ltd (SPL) has announced the acquisition of a 4-acre land parcel in Chandapura, Bengaluru.
According to the company’s statement, the project has a revenue potential of over ₹250 crore and is expected to be developed over the next three years.
The company aims to launch the project during FY25.
Murali Malayappan, Chairman & Managing Director of SPL said, “This strategic investment aligns perfectly with our goal of bolstering our presence in Bengaluru, one of our core markets. Chandapura emerges as a vital micro-market with an anticipated surge in demand from the mid-market segment in the foreseeable future.”
Shriram Properties stock rose 2.89 per cent to trade at ₹124.50 on the NSE as of 12.21 pm.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.