Shriram Properties Stock Jumps 4% on Bengaluru Project Sales

18 Mar 2024 , 06:01 PM

In Bengaluru’s Electronic City, Shriram Properties’ recently opened “Codename Ultimate” project has sold about 70% of its project inventory. In its exchange filing, the company stated that the project consists of about 414 units with a combined saleable size of nearly 500,000 square feet.

In three different developments during the last three to five years, Shriram Properties has delivered 2,700 units.

In the upcoming quarters, it will also be transferring another 650 apartments at Shriram Liberty Square and another 500 units in Phase 1 of Shriram 107 South East.

“We were optimistic about providing a robust product for our clients, and it has been well accepted,” Vivek Venkateswar, the company’s chief sales and marketing officer, was cited as saying.

Launched last week in Bengaluru, “Codename Ultimate” by Shriram Properties has a ₹350 Crore total income potential.

At ₹110, shares of Shriram Properties are up 4% on the day after surging to the day’s high. The stock has increased by 90% in the past year.

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