Shriram Properties soars after unveiling brand transformation initiative

The company has embarked on a mission called, SPLNxT - towards accelerating growth, repositioning brand and enhanced focus on the mid-market segments.

As part of its mission, the company aims to enhance its focus on the mid-market and mid-premium segments of the residential real estate markets in Bengaluru, Chennai and Kolkata, as well as Pune that it plans to enter soon.

Under SPLNxT, the company aims to double its sales, triple its revenue, and quadruple its profits over the next 3 years. The Company is targeting cumulative sales of over 20 million square feet (msf), predominantly focused on Bengaluru, Chennai and Pune. Kolkata will remain a key contributor. Currently, SPL has a project pipeline of 42 projects with 42 msf development potential. Of this, 24 msf is ongoing and the remaining 18 msf of development potential vests in future projects. SPL is targeting to double this future project inventory in 18-24 months.

On outlook front, the company remains committed to its growth trajectory, focusing on leveraging its strong operational platform for future profitability. Its project pipeline is robust, and with targeted accelerated new project addition, it will be well positioned to reap benefits of the positive industry outlook and attain leadership in the mid-segments, its renewed focus area.

The company has achieved a remarkable scale expansion, with its sales volume growing 3.5x to 4.6 msf and sales value growing 5x to Rs. 2,362 crores and annual handovers jumping 4x to over 3,000 units in FY24. The Company's return on capital employed (ROCE) has risen from 3% in FY18 to 11% in FY24.

Murali Malayappan, chairman & managing director of Shriram Properties, said: 'We are embarking on a mission with a brand-new identity, as we enter 25th year of our operations. It will allow us to create our own identity and elevate and re-position the trusted Shriram brand among NextGen buyers.'

Murali further added, 'While embracing change, our dedication to customers, quality & design, industry-leading construction standards, and enhancing customer satisfaction will continue. We will leverage technology for enhanced customer delight going forward. We envision SPL as a dominant force, not only in south India but across our key markets.'

Shriram Properties (SPL) is one of South India's leading residential real estate development companies, primarily focused on the mid-market and affordable housing categories. SPL's key markets include Bangalore, Chennai and Kolkata.

The company's consolidated net profit increased 4.9% to Rs 17.44 crore in Q1 FY25 as compared with Rs 16.62 crore posted in corresponding quarter last year. Net sales jumped 14% YoY to Rs 153.96 crore during the quarter.