Shriram Properties launches a new residential project under the 'Codename Ultimate', with project revenue potential of ₹ 350 crores

Shriram Properties, a leading residential developer in South India, has announced the launch of its latest RERA-approved residential project under the "Codename Ultimate" near Electronic City, Bengaluru.

The project is being developed under the joint development model, with an aggregate saleable area of around 5.0 lakh square feet. This 400+ unit Balinese-themed project, characterized by its tranquil and harmonious ambience, prioritizes open spaces, encompassing over 70% of the total area.

The development offers a selection of spacious two-bedroom and three-bedroom apartments, meticulously designed to reflect the essence of Balinese architecture and lifestyle. Situated just a few minutes away from Electronic City, the project is designed to seamlessly integrate contemporary living with natural landscaping. This strategic location offers easy access to the nearest upcoming metro station, quality healthcare facilities, and the city center. Moreover, being situated close to premier schools, colleges, and hospitals, it is an ideal choice for professionals seeking a well-rounded lifestyle.

The project's centerpiece is its expansive 14,000 square foot clubhouse, designed to accommodate a variety of recreational and wellness activities. Boasting over 40 world-class modern amenities, the clubhouse caters to residents of all ages, providing a diverse range of options for leisure and well-being. From state-of-the-art fitness facilities to vibrant social spaces to tranquil meditation areas, the clubhouse is a hub of activity and relaxation for the community. Whether residents seek energetic workouts, social gatherings, or moments of serenity, the clubhouse offers something for everyone, fostering a vibrant and inclusive environment for all.

Shriram Properties has strong familiarity to this micro market, as the Company has already completed and delivered over 2,700 units across 3 projects (Shriram Summit, Shriram Signiaa and Shriram Smirithi) in this neighborhood during the last 3-5 years. The Company is in the process of handing over another ~ 650 units in Shriram Liberty Square, completed recently. Apart from delivering quality homes with modern amenities, these Shriram projects have also yielded significant value appreciation for its customers over the years.

Commenting on the launch, Mr Vivek Venkateswar, Chief Sales & Marketing Officer, Shriram Properties said, "The convergence of employment opportunities, robust connectivity, and the growing need for highquality housing in and around Electronic City has positioned the area as an optimal destination for both homebuyers and investors. Despite the prevailing focus on Electronic City, there's a rising demand for superior residences in adjacent regions. This spurred our decision to prioritize the launch of our project under "Codename Ultimate", addressing this market gap. We envision this project as the preferred choice for prospective homebuyers aspiring for a world class lifestyle."

Shares of Shriram Properties Limited was last trading in BSE at Rs. 96.75 as compared to the previous close of Rs. 107.65. The total number of shares traded during the day was 288672 in over 3383 trades.

The stock hit an intraday high of Rs. 109.50 and intraday low of 94.65. The net turnover during the day was Rs. 28938751.00.

Source : Equity Bulls

Keywords

ShriramProperties Residential Commercial RealEstate INE217L01019 ResidentialProject CodenameUltimate