Shriram Properties embarks on Rs 1,500 cr realty development

Shriram Properties, a part of the Rs 6,000 crore Shriram Group, has lined up Rs 1,500 crore worth of investments in Bangalore.

The company has taken up two real estate projects "" one at Brookfields on Airport road and another at Whitefield.

At Brookefields, it is a commercial-cum-residential project valued at Rs 600 crore and it comprises of 1.2 million square feet of commercial space and 800,000 square feet of residential space, M Murali, managing director, Shriram Properties told Business Standard.

The second project, also in Whitefield, is valued at Rs 900 crore and comprises of four million square feet of construction space, he added. So far the company has completed projects involving 2.5 million square feet through projects like Samruddhi, Shreyas and Spandhana in various parts of the city.

"While Bangalore has been our major territory till now, the company has begun venturing out into markets like Chennai and Coimbatore," he said.

Bangalore continues to occupy a prominent space on Shriram Properties' strategic radar and the company has already charted out blue print to capture the ripe potential of the city, he added.

Recently, the company bagged Rs 900 crore Standard Motor (now under liquidation) land project in a closely contested bid for the 57.84 acre in Chennai. "Shriram Properties won the deal with a quote price of Rs 154.10 crore," he said.