Shriram Properties Ltd. (SPL) has reported sales volume growth of 25% to 3.76 million square feet for the fourth quarter ended March, supported by 12 launches in its core markets of Bengaluru and Chennai.
During the period, projects under the development management model accounted for 28% of sales volume and projects under planned development for 25%, the company said in a statement.
Total sales rose 19% to £1,482 billion, while total collections rose 37% to £1,263 billion.
SPL said it remains positive on the immediate and long-term outlook given the sector’s strong fundamentals, supported by low interest rates, stable prices, rising purchasing power and government tax incentives for homebuyers.
Mid-range and affordable housing would continue to play a key role, and the company focused on that segment.
Planned significant new launches in the next fiscal year would allow the company to maintain growth momentum and create significant value for its stakeholders, Shriram said.
