Shriram Properties has sold nearly 70% of its project inventory in its recently launched "Codename Ultimate" project in Bengaluru's Electronic City. The project has over 414 units with an aggregate saleable area of nearly 500,000 square feet, the company said in its exchange filing.
Over the past three to five years, Shriram Properties has delivered 2,700 units across three projects.
It is also in the process of handing over another 650 units in Shriram Liberty Square, and another 500 units in Phase-1 of Shriram 107 South East in the coming quarters.
"We were confident of offering a very strong product for our customers, which has been well received," the company's Chief Sales and Marketing Officer Vivek Venkateswar was quoted as saying.
Shriram Properties launched "Codename Ultimate" in Bengaluru last week with an overall project revenue potential of ₹350 crore.
Shares of Shriram Properties surged to the day's high and are currently trading 4% higher at ₹110. The stock has risen 90% over the last 12 months.
(Edited by : Amrita)
First Published: Mar 18, 2024 1:27 PM IST
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