Shriram Properties inks MoU with LOGOS

25 Apr 2022 , 02:24 PM

LOGOS will develop said that land parcel into warehousing and logistics Park.

LOGOS is an Asia-Pacific logistics specialist that owns and develops warehousing and logistics parks across the region. LOGOS has a presence in 10 countries with $19.6 billion of assets under management, across 119 properties.

In India, LOGOS has developed 5 million square feet of warehousing and logistic parks in NCR, Chennai, and Bengaluru and is expanding its presence in this growing market.

M Murali, chairman and managing director of Shriram Properties, said: ?We are extremely delighted to be working with LOGOS, a leading warehousing, and logistics developer in Asia, on this potential transaction. LOGOSs proposed investment in Shriram Grand City will transform the micro-market and allow us to realize superior value for both companies stakeholders.?

Shriram Properties is one of South Indias leading residential real estate development companies, primarily focused on the mid-market and affordable housing categories. SPLs key markets include Bangalore, Chennai, and Kolkata which together account for over 85% of its development activities.

On a consolidated basis, the company reported a net profit of Rs 13.22 crore in Q3 FY22 as against net loss of Rs 21.17 crore in Q3 FY21. Net sales declined 22.2% to Rs 109.63 crore in Q3 FY22 over Q3 FY21.

The scrip fell 1.47% to currently trade at Rs 77 on the BSE.

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