Shriram properties to invest rs 4,900 crore in 3 years

T E Narasimhan, Chennai, July 27, 2009
Business Standard
Shriram Properties, part of Chennai-headquartered diversified Shriram Group, is planning to invest around Rs 4,900 crore in various residential and commercial projects.

Shriram Properties managing director M Murali said that the company had set a target to become Rs 1,000 crore company over the next three years from the present Rs 450 crore.

Speaking about commercial projects, Murali said that so far the company was promoting IT/ITeS projects and delivered one million sq.ft. currently construction is going on at eight lakh sq.ft of land near Chennai. The company also got an approval to pro-mote a special economic zone for IT/TeS in Kolkata. Total investment in the proposed project would be around Rs 1,200 crore.