Bengaluru -headquartered real estate developer Shriram Properties is looking to double its sales to ₹ 5,000 crore, triple income to ₹ 3,000 crore and quadruple profits to more than ₹ 250 crore in the next three years, or by FY27, the company's top official said on August 21. “We will scale up our annual sales from 4.5 million square feet last year to 8-9 mn sq ft.
We would have sold close to 20 million square feet cumulatively (in 3 years). Of this, Bengaluru alone will account for 7-8 mn sq ft, Chennai will account for about 5-6 mn sq ft, Kolkata about 3-4 mn sq ft, cumulatively in three years,” said Gokul Krishnan, Executive Director and Group CEO, Shriram Properties. During the 2023-24 fiscal year, Shriram Properties clocked a net profit of ₹ 75 crore, while the company's total income came in at ₹ 987.
35 crore. Sales value during the 12-month period touched ₹ 2,362 crore. As the company enters its 25th year of operations, Shriram Properties also unveiled a new brand identity - SPLNxT - with enhanced focus on the mid-market and mid-premium segments.
Going forward, over 90% of the brand’s portfolio (from 67% earlier) will comprise mid-market and mid-premium projects. Simultaneously, the brand will continue to focus on luxury projects. Also Read: Shriram Properties posts modest 5% growth in net profit, touches ₹ 17.
5 crore in Q1 FY25 Shriram Properties defines the mid segment as comprising homes ranging between ₹ 50 lakh - 1.5 crore. Meanwhile the mid-pr.