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Shriram Properties shares fly: South India’s leading real estate player, Shriram Properties, saw its shares climb as much as 15.31 per cent to hit an intra-day high of Rs 125.25 on the BSE following the news that the company has launched a brand transformation initiative, SPLNxT, aimed at accelerating growth, repositioning the brand, and enhancing focus on the mid-market segments.
In a press release, Shriram Properties stated, “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, predominantly focused on Bengaluru, Chennai, and Pune. Kolkata will remain a key contributor. The company has launched SPLNxT to celebrate its 25th year of operations in 2024-25.”
Speaking on the occasion, Murali Malayappan, Chairman & Managing Director of Shriram Properties, said, "We are embarking on a mission with a brand-new identity as we enter our 25th year of operations. It will allow us to create our own identity and elevate and reposition the trusted Shriram brand among NextGen buyers.”
Shriram Properties is one of South India’s leading residential real estate developers, primarily focused on the mid-market and mid-premium segments. SPL’s key markets include Bengaluru, Chennai, and Kolkata, which together account for nearly 85% of its development activities.
Shriram Properties commands a market capitalisation of Rs 2,110.67 crore as of August 21, 2024. The real estate player is a constituent of the SmallCap index on the BSE.
BSE analytics reflect that the company’s shares have sprinted 22 per cent in the last one week, while they have gained 22.77 per cent in the last one month and 63.36 per cent in the last one year.
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Shriram Properties shares have a 52-week range of Rs 140.95 to Rs 74.24 on the BSE.
At around 2:50 PM, Shriram Properties shares were trading at Rs 123.25, up 13.44 per cent from their previous close of Rs 108.65 on the BSE.
The company’s stock is currently nearly 13 per cent lower than its 52-week high of Rs 140.95, which it hit on February 6, 2024, on the BSE. At the time of writing, nearly 11.34 lakh shares worth Rs 13.41 crore of Shriram Properties had exchanged hands on the BSE.
The company’s stock is currently nearly 13 per cent lower than its 52-week high of Rs 140.95, which it hit on February 6, 2024, on the BSE. At the time of writing, nearly 11.34 lakh shares worth Rs 13.41 crore of Shriram Properties had exchanged hands on the BSE.
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