Shriram Properties (SPL) has signed a joint development agreement to develop a land at Koyambedu, Chennai.
The residential project has a saleable area of 3.2 lakh sq ft and will be developed over the next three years. The project is expected to have aggregate revenue potential of approximately Rs 350 – Rs 400 crore and is being targeted for launch during early FY26.
Murali Malayappan, chairman and managing director of the company said, “This investment aligns with our asset-light strategy to drive accelerated growth. We are looking forward to its launch in early next financial year.”In December 2024, SPL Shelters, a wholly-owned subsidiary of the company, had sold 3.9 acre land parcel in Chennai to a healthcare and educational group for Rs 93 crore.
