Shriram Properties buys prime Bengaluru plot for residential project with GDV of up to Rs 250 crore

Shriram Properties

Shares of real estate developer Shriram Properties surged 6 percent on April 23 after the company said it has acquired a premium land parcel in Yelahanka, North Bengaluru.

The shares of the real estate developer were trading at a month high of Rs 85 apiece.

The company, in an exchange filing, announced the acquisition of a prime 5-acre land parcel that it plans to develop into a premium residential complex with row houses or villas over the next three years. The project is set to have a gross development value (GDV) of Rs 200-250 crore, and is expected to be launched during the second half of the ongoing FY26.

"Situated in one of North Bengaluru's most coveted micro-markets, this project is poised to become a landmark development. The vicinity is enriched with esteemed educational institutions, including international schools and renowned colleges, catering to families seeking quality education for their children. Moreover, the area is witnessing rapid infrastructural advancements which are set to enhance accessibility and drive economic growth. These factors collectively position the project as an attractive proposition for discerning homebuyers looking for a harmonious blend of convenience, connectivity, and community living," the company said.

Speaking on the acquisition, Shriram Properties CEO Gopalakrishnan J said, "This strategic investment is well aligned with our objective of strengthening the Shriram brand's footprint in North Bengaluru, a region demonstrating sustained and robust growth potential. We are pursuing an ambitious trajectory, focused on building a strong pipeline of projects to accelerate expansion, and the current acquisition serves as a key milestone in this journey. We shall endeavour to position and launch this project as a landmark villa / row-house development during H2-FY26. This project reinforces our dedication towards creating sustainable and vibrant communities and also marks a significant step in our ongoing journey to redefine urban living experiences."