New Launch29 Oct 2024, 09:38 pm
Shriram Properties Signs JDA for 6-acre Land Parcel in Pune with ₹700-750 Crores Revenue Potential
AI Summary
Shriram Properties Limited (SPL) has signed a Joint Development Agreement (JDA) for a 6-acre prime land in Undri, Pune. The project, which comprises 650+ apartments and some retail/commercial spaces, has an aggregate saleable area of over 1.0 msf and a revenue potential of approximately ₹700-750 crores. The project is expected to be launched during H2-FY25 and is part of SPL’s pursuit of accelerated growth in the Pune market, which is the second largest residential market in the country. SPL has a strong pipeline of 42 projects with 42 msf of saleable area, including 26 ongoing projects with 24.3 msf of saleable area as of June 30, 2024.
Key Highlights
- SPL has signed a JDA for a 6-acre prime land in Pune's upcoming micro markets of Undri.
- The project comprises 650+ apartments and some retail/commercial spaces, with an aggregate saleable area of over 1.0 msf.
- The project has a revenue potential of approximately ₹700-750 crores and is expected to be launched during H2-FY25.
- SPL's entry into the Pune market is part of its strategy for accelerated growth while remaining asset light.
- SPL has a strong pipeline of 42 projects with 42 msf of saleable area, including 26 ongoing projects with 24.3 msf of saleable area as of June 30, 2024.