Shriram Properties on Board to Register 25 percent Revenue Growth in 2024

India's leading residential real estate developer focused on affordable housing categories, Shriram Properties is on board to record a 25% year-on-year growth of revenue Rs. 2,300 crore the financial year 2024.

As well this prominent Bengaluru-based realty player is foreseeing a surge of 20 percent in its annual sales on the back of 14 percent year-on-year rise in prices of housing until now. Accompanied with rise in raw material prices, labor wages and interests on capital, industrial players featured this price hike in 2023.

By means of five residential projects lined up to be launched across Bengaluru and Chennai in upcoming months, Shriram Properties is looking forward to deliver over 4.5 million square feet of profitable area collectively during the end of financial year on March 31, 2024.

Murali Malayappan, Chairman & Managing Director of Shriram Properties, Bengaluru confirmed the company’s shifting towards the premium end of the middle housing segment in future. On speaking to this he said, “We’ve been dominant in the mid-market segment, (moving) to mid-premium now because that is where the demand is also going up phenomenally well today”.

Furthermore, to improve the supply of budget housing units in the country, he listed the negligible stamp duty charges, lower goods & services tax and a single window clearance for regulatory approvals as actionable measures.