Shriram Properties on the Cusp of a Major Growth Trajectory
by Shrutee K/DNS
Mumbai: The Bangalore-based real estate major Shriram Properties,
has envisioned major growth plans for the coming year with expansion across key
cities like Bangalore, Chennai, Kolkata and Vishakhapatnam. The company has
enlisted top talent from real estate companies, like Brigade Group, Lodha Group and Embassy to achieve
the ambitious growth plans set out by the company. The recent hiring includes, appointment
of Arun Anand, former Product Strategy Head at Embassy and Vyoma Pandit,
former Marketing Head at Brigade, as Joint CMOs (Chief Marketing Officers) of
Shriram Properties. Both are MBAs from
top B-schools who started their real estate careers at Lodha Group in Mumbai. Over
25 other mid-senior level
professionals from companies like Lodha, Mantri, Assetz including young talent
from the IT & Startup industry have also come on board over the last few
months.
With a
slew of pro-industry initiatives by the government, which include RERA and GST,
the company is confident to achieve significant growth in the coming few years.
The company has plans to launch five new
projects in Bangalore this fiscal, and also plans to announce the launch of
residences in Chennai’s 1st truly integrated
enclave. They are also adding a new
phase to the existing project in Vishakhapatnam and have plans to launch a new
phase in Kolkata at Shriram Grand City, the most successful launch in Kolkata
last year. This is a build-up to their recent announcement of them investing Rs
15,000 crore over the next 7-8 years for the development of around 30 ongoing
projects, largely residential, across six major cities. This fiscal, company is
targeting doubling in sales numbers from the last fiscal.
Speaking on this fresh phase of growth in Shriram Properties, Mr. M
Murali, Managing Director, Shriram Properties, said, “Shriram
Properties is at the cusp of a new phase of growth. To meet our ambitious
business plans we have brought in many young, dynamic professionals from the
industry and given them an open playing field to bring about the transformation
in the company. We continue to believe and invest in the entrepreneurial work
culture that makes Shriram Properties a unique place to work in an otherwise
traditional industry.”
Shriram
Properties recently signed a $350 million deal with Xander
Group, making it the largest private equity deal in the real estate
space. Their key investors include
Walton Street, Starwood capital, TPG Capital, Tata Opportunities Fund, ASK,
Motilal Oswal, Amplus and ICICI Prudential. Today Shriram Properties holds
close to 2% of the FDI in India, the largest by a single developer. Shriram Properties has a land bank of 1,200 acres for
future development.
About Shriram
Properties: Shriram
Properties, the property development arm of the Rs 90,000 crores financial
giant Shriram Group, Chennai, is a
multi-crore company with nearly Rs 25,000 crores business across the country.
The company has so far delivered over 15 million square feet of residential and commercial built up space across the country and has another
around 60 million square feet is under various stages of development.
Shriram properties have raised till
date, PE investments of about US$ 460 million from investors at entity level as
well as projects level being largely residential. They have 15 million square
feet completed and delivered projects, and 25-30 projects comprising of 60
million square feet area that are currently under development. Shriram
Properties has won the prestigious Assocham Award (Associated chamber of
commerce and Industry) in three consecutive years from 2013 to 2015, for being
the Best
Developer in Southern region. The
company has also won awards for being the Best
Realty Investment Partner in India and
the Most
Transparent Developer in Southern region.
In my point of view, this is really very well and informative content given about The Emerging Real Estate Market of Kolkata. Thanks for given this information here about this blog.
ReplyDelete3bhk Flats in Govindpuri