Shriram Properties zooms on planning to invest Rs 750 crore on construction of residential projects in FY24
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Shriram Properties is currently trading at Rs. 71.08, up by 3.12 points or 4.59% from its previous closing of Rs. 67.96 on the BSE.
The scrip opened at Rs. 67.20 and has touched a high and low of Rs. 72.00 and Rs. 67.20 respectively. So far 91549 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.10 on 13-Sep-2022 and a 52 week low of Rs. 53.25 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 72.00 and Rs. 65.20 respectively. The current market cap of the company is Rs. 1214.10 crore.
The promoters holding in the company stood at 28.00%, while Institutions and Non-Institutions held 13.19% and 58.80% respectively.
Shriram Properties is planning to invest around Rs 750 crore this fiscal (FY24) on construction of its ongoing and new residential projects as it looks to scale up business amid strong housing demand. The company had spent Rs 500 crore in the last financial year on construction works.
The company is currently developing many housing projects and plans to launch multiple housing projects this fiscal to tap the rise in housing demand.
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.
