Shriram Properties’ stock saw a notable jump of over 6% in early trading after announcing a joint development agreement (JDA) to launch a mixed-use project in Pune.
This project, set to be developed on a six-acre plot in the fast-emerging area of Undri, Pune, has an estimated revenue potential of approximately Rs 750 crore. The strategic move into Pune’s growing real estate market underscores Shriram Properties’ focus on expanding its portfolio in high-growth areas.
Within the next four years, Shriram Properties plans to develop around 650 apartments as well as some retail/commercial spaces, totalling over 1 million square feet of saleable space.
As of 9:23 am, Shriram Properties shares were trading 5.56% higher at Rs 109.84 on the NSE.
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