Shriram Properties are one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories. Shriram Properties are among the five largest residential real estate companies in South India, including specifically in Bengaluru and Chennai, in terms of number of aggregate units launched in the calendar years 2012 to 2017 and the six months ended June 30, 2018. Shriram Properties are also present in the mid-market premium and luxury housing categories, commercial and office space category as well as plotted development category.
Shriram Properties are part of the Shriram Group, which is a prominent business group with four decades of operating history in India and a well-recognized brand in the retail financial services sector and several other industries. Shriram Properties believe that our relationship with the Shriram Group provides us with strong brand recall and that we benefit, and will continue to benefit, from the trust and confidence that homebuyers, lenders, financial investors, landowners, development partners, contractors and other stakeholders place in the Shriram brand and its operational history.
Shriram Properties commenced operations in Bengaluru in the year 2000 and, have expanded our presence to other cities in South India, i.e., Chennai, Coimbatore and Visakhapatnam. In addition, Shriram Properties also have presence in Kolkata in East India, where Shriram Properties are developing a large mixed-use project. Bengaluru and Chennai are two key markets for them. These cities are two large residential housing markets in India, contributing to approximately 31.24% of the launches and 34.22% of the sold inventory in India’s seven cities (Bengaluru, Mumbai, Delhi, Chennai, Pune, Hyderabad and Kolkata), across calendar years 2016 to 2017 and the six months ended June 30, 2018.
As of November 30, 2018, Shriram Properties have 25 completed projects, representing 12.86 million square feet of Saleable Area, out of which our 20 completed projects in the cities of Bengaluru and Chennai accounted for 87.69% of our Saleable Area. Further, 81.88% of our total Saleable Area for completed projects were in the mid-market category and affordable housing category (with midmarket and affordable categories accounting for 48.02% and 33.86% respectively), and the remainder in the commercial and office space and luxury housing categories, as of November 30, 2018.
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