Shriram Properties Limited Aims to Deliver 2,170 Residential Units by FY24
Shriram Properties Limited, a real estate developer based in Bengaluru, has unveiled an ambitious plan to deliver 2,170 residential units by the end of FY24. The total sales value of these units is projected to reach Rs 1,500 crore. The company intends to provide these units across multiple cities, including Bengaluru, Chennai, Kolkata, Coimbatore, and Vizag.
While Bengaluru will account for 50 percent of the total deliveries, the ticket sizes of the units will be in the mid-market and affordable segments. The mid-market segment will feature units priced between Rs 80 lakh and Rs 1 crore, while the affordable segment will offer units in the range of Rs 30-40 lakh. Interestingly, 40 percent of all deliveries in the second half of FY24 will fall under the affordable segment.
Shriram Properties Limited has identified key locations such as JP Nagar, Electronic City, Old Madras Road, and Sarjapur in Bengaluru for their upcoming projects. The company plans to launch around 5.3 million square feet (msf) of residential space, comprising approximately 5,000 units, in the mid-market segment in Electronic City, Yelahanka, and Jalahalli.
Moreover, the company has set its sights on launching a 20-acre plotted development in Chennai and a 15-acre project in Kolkata during this fiscal year.
Although reports have hinted at a decline in the affordable housing segment in India, Murali M, Chairman and Managing Director of Shriram Properties Limited, asserts that the demand for affordable housing is actually growing annually at a rate of at least 20 percent. While there has been an increase in the supply of luxury housing, the demand for affordable, mid-market, and luxury segments has consistently existed.
However, rising land prices in major cities like Bengaluru and Mumbai remain a cause for concern. Shriram Properties Limited is closely monitoring this trend, especially as it impacts the affordable housing segment.
Currently, the company has a debt value of Rs 430 crore. To alleviate this financial burden, Shriram Properties Limited plans to explore various avenues, including liquidation and the sale of more assets. Notably, the company recently made a joint investment with ASK Property Fund, committing Rs 206 crore to acquire 100 percent development rights in a distressed project in Chennai. Overall, the company is dedicated to reducing its debt and enhancing its financial stability.
FAQ
Q: Ile jednostek mieszkaniowych planuje dostarczyć Shriram Properties Limited do roku 2024?
A: Shriram Properties Limited planuje dostarczyć 2 170 jednostek mieszkaniowych do roku 2024.
Q: W jakich miastach dostarczane będą te jednostki?
A: Dostawy będą miały miejsce w Bengaluru, Chennai, Kolkata, Coimbatore i Vizag.
Q: Na jakie rynki zostaną skierowane nadchodzące premiery Shriram Properties Limited?
A: Nadchodzące premiery będą głównie skoncentrowane na segmencie średnio rynkowym i odbędą się w Electronic City, Yelahanka i Jalahalli w Bengaluru.
Q: Jaka jest opinia firmy na temat segmentu przystępnych mieszkań w Indiach?
A: Shriram Properties Limited uważa, że zapotrzebowanie na przystępne mieszkania rośnie o co najmniej 20 procent rocznie, w przeciwności do raportów sugerujących jego spadek.
Q: Jak Shriram Properties Limited zamierza zmniejszyć swoje zadłużenie?
A: Firma stosuje różne strategie, takie jak likwidacja i sprzedaż aktywów, aby zmniejszyć wartość swojego obecnego zadłużenia w wysokości 430 crore rupii.
Q: Jakie było ostatnie wspólne inwestowanie Shriram Properties Limited?
A: Shriram Properties Limited zainwestowało 206 crore rupii wraz z ASK Property Fund, aby uzyskać 100 procent praw do rozwoju w jednym z kłopotliwych projektów w Chennai.
The source of the article is from the blog maltemoney.com.br