Shriram Properties, a leading real estate developer, saw a 7% surge in its stock price on October 30, thanks to a new joint development agreement in Pune. The company announced plans for a mixed-use project in the Undri area, which is expected to bring in revenue of around ₹750 crore.
This six-acre land parcel will be transformed into a bustling hub with over 650 residential units, commercial spaces, and retail areas. The total saleable area is set to exceed 1 million square feet, with construction slated to finish within the next four years.
Chairman & Managing Director, Murali Malayappan, highlighted the strategic importance of this investment, stating, “Pune presents a promising market, and we recognize significant potential for well-established brands like Shriram.”
Shriram Properties currently has a strong project pipeline, with 42 projects totaling 42 million square feet of saleable area. The addition of this new joint development agreement in Pune marks a significant milestone as the company continues to pursue its growth strategy in the real estate market.
Investors and stakeholders are advised to keep an eye on Shriram Properties as they progress with this exciting new project. Make sure to consult with certified experts before making any investment decisions.
Thanks For Reading Report of Punepress.com