Shriram Properties Unveils New Brand Identity; Aims To Triple Revenue In Two Years

Shriram Properties Ltd. announced plans triple its revenue to Rs 3,000 crore and double its sale bookings to Rs 5,000 crore by fiscal 2027 on Wednesday.

As part of its strategic overhaul, the company introduced a new brand identity designed to enhance its reputation and appeal to the next generation of buyers.

Murali Malayappan, chairman and managing director of Shriram Properties, emphasised that this rebranding is a pivotal step in reshaping the company’s image and aligning it with modern market expectations.

Malayappan outlined the company's growth ambitions, highlighting that they plan to leverage advanced technology in construction and customer services to achieve these targets. He expressed confidence in the company's ability to replicate its past achievements in a much shorter time frame.

Shriram Properties is expanding into the Pune real estate market with plans to launch a new project soon. The company will also remain open to exploring other key markets as opportunities arise.

Currently focusing on mid-market and mid-premium housing, Shriram Properties has a strong presence in Bengaluru, Chennai, Kolkata, Coimbatore, and Vizag.

The firm has successfully delivered 44 projects with a total saleable area of 24.4 million square feet and has a development pipeline of 42 projects, totaling 42.1 million square feet as of June 30.

Gopalakrishnan, Executive Director and Group CEO, detailed the company's aggressive targets for the next three years.

The goals include doubling annual sale bookings to Rs 5,000 crore, tripling revenues to Rs 3,000 crore, and quadrupling profits to over Rs 250 crore.

For fiscal 2024, Shriram Properties reported a net profit of Rs 75.43 crore from a total income of Rs 987.35 crore, with record sale bookings of Rs 2,362 crore, marking a 28% increase from the previous year.

To meet its growth objectives, the company plans to ramp up annual sales from 4.5 million square feet in fiscal 2024 to 8-9 million square feet by fiscal 2027. The sales distribution is expected to be concentrated in Bengaluru (7-8 million square feet), Chennai (5-6 million square feet), with Kolkata and Pune contributing around 4-5 million square feet each. The remainder will come from potential new markets.

(With inputs from PTI.)