Shriram Properties aims Rs 500 cr revenue from 6.5-acre JV project in Bengaluru

Realty firm Shriram Properties Limited has partnered with a landowner to develop a 6.5-acre housing project in Bengaluru with an estimated revenue of around Rs 500 crore.

In a regulatory filing on Friday, the company informed that it has signed a Joint Development Agreement for a 6.5-acre prime land in North Bengaluru.

The company will develop a premium residential project with a saleable area of about 0.6 million square feet and an estimated GDV (gross development value) potential of about Rs 500 crore.

Shriram Properties Ltd is one of the leading real estate firms in the country. It has so far delivered 48 projects with a saleable area of 28.3 million square feet in Bengaluru, Chennai and Kolkata.

The company is currently developing 19 million square feet areas.