Shriram Properties partners with landowner for ₹500 crore housing project in North Bengaluru
Bengaluru real estate: Shriram Properties said proposed development will cover 0.6 mn sq ft of saleable area, expected to be launched in the next financial year
Real estate developer Shriram Properties Limited (SPL) has signed a joint development agreement for a 6.5-acre land parcel in North Bengaluru’s Yelahanka area with a gross development value (GDV) of ₹500 crore, the company said in a regulatory filing on September 5.
The proposed development will cover 0.6 million sq ft of saleable area and is expected to be launched in the next financial year. The project is located next to the upcoming 154-acre Madapanahalli Biodiversity Park, which will include eucalyptus plantations, a medicinal garden, aviary, zoo, and tree park.
SPL said the project aligns with its asset-light strategy and will add momentum to its expanding project pipeline. “This project marks a significant milestone in our journey to create landmark developments that blend luxury living with ecological harmony,” said Akshay Murali, vice president, business development, Shriram Properties.
“Yelahanka’s evolving landscape and its proximity to the upcoming biodiversity park make this location truly unique,” he said.
Also Read: Shriram Properties launches housing project in Bengaluru with revenue potential of ₹350 crore
Previous transactions
In July, SPL launched a new residential project in south Bengaluru’s Electronic City with a revenue potential of over ₹350 crore. The project, Codename: The One, will feature 340 premium 2 and 3 BHK apartments with a total saleable area of approximately 5 lakh square feet. The project is expected to be developed in three years.
The project will include South Bengaluru’s largest sky terrace, the company said. Strategically located near Bommasandra Metro Station and medical firm Narayana Hrudayalaya, the project is close to major IT and tech hubs, the company said.
Also Read: Shriram Properties acquires 5-acre land parcel in north Bengaluru, eyes ₹200–250 crore
Future pipeline
Shriram Properties is looking to double its sales to ₹5,000 crore, triple revenue to ₹3,000 crore and quadruple profits to more than ₹250 crore in the next three years, Gopalakrishnan had said last year.
To date, the company has expanded its presence to five cities, delivering about 44 projects spanning 24.4 million square feet.
