Shriram Properties Aims for 25% Sales Growth, Riding High on Robust Housing Demand

In an exclusive interview with PTI, Shriram Properties’ Chairman and Managing Director, M Murali, revealed the company’s ambitious target of achieving a 25% growth in sales bookings for the current fiscal year. This goal follows their exceptional performance in the previous year, where they recorded sales bookings worth an impressive Rs 1,846 crore. The surge in demand for housing across all price categories played a pivotal role in Shriram Properties’ success.

The real estate firm experienced an unprecedented high of Rs 1,846 crore in sales bookings during the 2022-23 fiscal year, reflecting a substantial 25% increase compared to the previous year’s figure of Rs 1,482.4 crore. This notable growth can be attributed to several factors, including a rise in sales volume, improved realization, and a strategic shift in the product mix.

When asked about the target for sales bookings in the ongoing fiscal year, M Murali stated, “We are anticipating a 20% growth in volume and an impressive 25% growth in value.” Last year, Shriram Properties achieved a record sales volume of 4.02 million square feet, surpassing the previous year’s figure of 3.8 million square feet.

During the previous financial year, the company witnessed an encouraging 8% annual increase in average annual sales realization. This significant boost further propelled Shriram Properties to explore new opportunities and tap into the growing housing demand. As a result, the company plans to launch multiple housing projects throughout the fiscal year.

M Murali expressed his optimism about the current market conditions, stating, “The market is truly flourishing. There has been tremendous demand for mid-income and affordable housing segments. I expect this demand to persist comfortably for the next 3-5 years due to various factors. The macroeconomic situation is favorable, and the overall stability in the country is robust.”

Shriram Properties’ remarkable performance in the face of a thriving housing market underscores its position as a prominent player in the real estate industry. With its strategic initiatives and customer-centric approach, the company is well-positioned to capitalize on the growing opportunities and deliver remarkable results in the years to come.