India’s property development company, Shriram Properties is planning to invest Rs 15000 cr for the development of nearly 30 ongoing projects over the period of next 7-8 years.
The Chennai based, flagship company of Shriram Group is currently working on nearly 60 million sq. ft., area in major cities like Chennai, Bengaluru, Hyderabad, Kolkata, Coimbatore and Vizag.
The total amount to be invested would be raised through internal accruals and bank loans.
The Company is likely to get the sales bookings of nearly Rs 950 cr in the current fiscal as compared to
Rs 750 cr in the previous year.
They may come up with an initial public offering when the time to enter the market is apt.