Shriram Properties Signs JDA for ₹400 Crore Chennai Project

Shriram Properties Limited (SPL) has entered a Joint Development Agreement (JDA) to develop a premium residential project in Koyambedu, a prominent micro-market in Chennai. Known for its strategic location and economic vibrancy, Koyambedu offers exceptional connectivity and infrastructure advantages.

Project Details

The residential complex will feature a total saleable area of 3.2 lakh sq. ft. and is expected to generate revenue of approximately ₹350–₹400 crore. SPL plans to launch the project in early FY26, with development slated to be completed within three years.

The project benefits from its proximity to key infrastructure, including a Metro station and railway station, ensuring seamless connectivity for residents.

This acquisition aligns with SPL’s asset-light strategy and reinforces its strong project pipeline. It reflects the company’s focus on delivering iconic developments in high-potential markets while driving sustainable growth momentum.

Commenting on the development, the CMD of SPL, Mr Murali Malayappan, said, “This investment aligns with our asset-light strategy to drive accelerated growth. Chennai presents a promising market with immense potential for established brands like Shriram. This micro market is well established and a hotspot of prime developments. We are looking forward to its launch in early next financial year and remain committed to delivering top-notch quality and utmost satisfaction for our customers”.

About Shriram Properties Limited

Shriram Properties Ltd is amongst South India’s leading residential real estate developers, mainly focused on the mid-market and mid-premium segments. The company’s key markets include Bangalore, Chennai and Kolkata.

On February 11, 2025, Shriram Properties share price opened at ₹85.40, touching the day’s low at ₹82.32, as of 9:54 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.