Shriram Properties soars on acquiring 100% stake in Suvilas Realities
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Shriram Properties is currently trading at Rs. 76.65, up by 2.70 points or 3.65% from its previous closing of Rs. 73.95 on the BSE.
The scrip opened at Rs. 75.05 and has touched a high and low of Rs. 77.75 and Rs. 75.05 respectively. So far 13994 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 115.75 on 20-Jan-2022 and a 52 week low of Rs. 59.60 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 77.75 and Rs. 69.95 respectively. The current market cap of the company is Rs. 1303.62 crore.
The promoters holding in the company stood at 28.00%, while Institutions and Non-Institutions held 14.40% and 57.59% respectively.
Shriram Properties’ wholly owned subsidiary -- Shriprop Builders has acquired 100% of the Equity shares of Suvilas Realities, a real estate company at Bangalore. Consequently, Suvilas Realities has become a tier 2 subsidiary of the Company. Suvilas Realities is developing a project called Suvilas Palms is a high rise residential apartment project at Jalahalli, Bangalore with development potential of approximately 660 residential units in 6.29 acres of land.
Shriram Properties is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories.
