Shriram Properties (SPL) shares surged 3% after its subsidiary, SPL Shelters Private Limited, sold a 3.9-acre land parcel on Chennai’s prime GST Road. The land, approved for retail development, sits adjacent to the bustling Shriram Park 63 residential project and a 4.0 million sq. ft. office complex.
The sale to a leading South Indian healthcare and educational group aligns with SPL’s strategy to focus on residential real estate in the mid and mid-premium segments. By monetizing non-core assets, SPL aims to enhance its residential portfolio, ensuring financial prudence and sustainable growth.
Shriram Properties opened at ₹107.94, reached a high of ₹109.44, and dipped to a low of ₹106.26 today. The stock’s 52-week high stands at ₹147.60, while its 52-week low is ₹91.05.
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