Shriram Properties Ltd

Shriram Properties Limited was originally incorporated as 'Synectics Infoway Private Limited' on 28 March 2000 at Chennai, Tamil Nadu. Subsequently, name of the Company changed to Shriram Properties P ... rivate Limited on 28 March 2003. The Company converted to a Public Limited Company and the name was changed to Shriram Properties Limited on 24 October 2018 and a fresh Certificate of Incorporation consequent upon change of name was granted by the RoC on 10 December 2018. Shriram Properties is engaged in providing real estate construction and property development services. The Company is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories. The Company is among the five largest residential real estate companies in South India in terms units launched across cities of South India including Bengaluru, Chennai and Hyderabad. The Company commenced operations in Bengaluru in the year 2000 and have since expanded its presence to other cities in South India, i.e., Chennai, Coimbatore and Visakhapatnam. In addition, it has presence in Kolkata, where it is developing a large mixed project as cities including, Bengaluru, Chennai and Hyderabad are key markets for the Company. In 2017, it acquired Horus Holdings Pte. Ltd of Shriram Properties and Infrastructure Private Limited located in a SEZ in Chennai. In 2018, the Company signed a Memorandum of Understanding(MOU) with ASK Property Investment Advisors Private Limited for funding of residential real estate projects in Bengaluru and Chennai In 2019, the first project 'Shriram Earth' was launched in April, 2019 at Bengaluru. The Company got into an agreement with Kotak India Affordable Housing Fund - 1 for investment of Rs 400 million for development of Shriram Grand Two, an affordable housing project in Kolkata. As of March 31, 2022, the Company had 29 completed projects, representing 16.8 msf of saleable area, out of which 24 projects are in the cities of Bengaluru and Chennai, accounting for 91% of saleable area. As of March 31, 2022, it had a total portfolio of 51 projects, with ongoing projects and upcoming projects, which consists 26 ongoing projects and 25 upcoming projects, of total estimated saleable area respectively. The Company is planning to raise capital from Public aggregating Rs. 800 crore Equity Shares by raising Rs 550 crore through Fresh Issue and Rs 250 crore through Offer for Sale. Read More