Shriram Properties signs JDA for a prime land in North Bengaluru

Shriram Properties Limited ("SPL"), a leading mid-market and midpremium focused residential real estate developer, has signed a Joint Development Agreement for a ~6.5 acres prime land in North Bengaluru.

The Company is set to develop a premium residential apartment project with a saleable area of approximately 0.6 million square feet and an estimated GDV potential of ~₹500 crores.

The development is envisioned as an iconic addition to the city's skyline. The project is strategically located adjacent to the upcoming large state park in Yelahanka, one of North Bengaluru's most promising residential hubs and the project is planned for launch during the next fiscal year. The project will overlook the proposed Madapanahalli Biodiversity Park, spread across 154 acres of eucalyptus plantations, featuring a medicinal garden, aviary, zoo, and tree park.

SPL remains committed to creating high-quality living spaces that blend seamlessly with nature while enhancing Bengaluru's evolving urban fabric. This project marks a significant milestone in SPL's assetlight growth strategy, further strengthening its robust project pipeline and reinforcing its growth momentum.

Commenting on the development, Mr. Akshay Murali, Vice President - Business Development at Shriram Properties said, "This project marks a significant milestone in our journey to create landmark developments that blends luxury living with ecological harmony. Yelahanka's evolving landscape and its proximity to the upcoming biodiversity park make this location truly unique. We are excited to bring a thoughtfully designed residential experience to this vibrant part of Bengaluru".

Shares of Shriram Properties Limited was last trading in BSE at Rs. 90.25 as compared to the previous close of Rs. 90.01. The total number of shares traded during the day was 79575 in over 935 trades.

The stock hit an intraday high of Rs. 92.00 and intraday low of 88.64. The net turnover during the day was Rs. 7176223.00.

Source : Equity Bulls

Keywords

ShriramProperties Residential Commercial RealEstate INE217L01019 JDA PrimeLand NorthBengaluru