Shriram Properties Revamps Brand, Targets 2x Sales And Expanded Market Share

Real Estate developer Shriram Properties (SPL) has launched its brand transformation as it entered its 25th year of operations on Wednesday. 

The company, which is known for its strong ties with the “Shriram Group,” is asserting its independent identity with a refreshed brand image aimed at enhancing customer perception and positioning itself as a premiere name in the real estate industry. This rebranding effort is reportedly part of a broader strategy to cater to the evolving needs of the next generation of homebuyers. 

In conjunction with its new brand identity, SPL has introduced “SPLNxT,” an initiative focused on accelerating growth and reorienting the company’s focus toward the mid-market and mid-premium residential segments. The company is setting its sights on dominating these segments in its core markets of Bengaluru, Chennai and Kolkata, while also planning to expand into Pune. This renewed focus comes as the mid-market residential sector has seen decent growth recently.

Under the SPLNxT initiative, SPL has set aggressive targets for the next three years, including doubling its sales, tripling its revenue, and quadrupling its profits. The company is projecting cumulative sales of over 20 million square feet, primarily in its key markets. To support this growth, SPL plans to accelerate the addition of new projects, significantly increasing its current pipeline, which already boasts 42 projects with a development potential of 42 million square feet.

In a statement, Murali Malayappan, Chairman & Managing Director of Shriram Properties Limited, said, "We are embarking on a mission with a brand-new identity, as we enter 25th year of our operations. It will allow us to create our own identity and elevate and re-position the trusted Shriram brand among NextGen buyers.” 

The company has seen its sales volume increase by 3.5 times and its sales value quintuple to Rs 2,362 crores in FY24. Additionally, SPL has improved its Return on Capital Employed (ROCE) from 3 per cent in FY18 to 11 per cent in FY24, placing it among the top performers in the industry.