Shriram Properties Limited (SPL) has entered into a joint development agreement with a landowner for a residential project in Yelahanka, North Bengaluru. The 6.5-acre land parcel has an estimated gross development value (GDV) of about ₹500 crore, according to a filing made by the company.
The project will cover around 0.6 million sq ft of saleable area and is planned for launch in the next financial year. Located close to the upcoming 154-acre Madapanahalli Biodiversity Park, the development will be positioned alongside new public amenities such as plantations, a medicinal garden, aviary, zoo, and tree park.
According to Shriram Properties, the project aligns with the company’s asset-light strategy and expands its residential development pipeline in Bengaluru. Akshay Murali, Vice President – Business Development at Shriram Properties Limited, indicated that the Yelahanka project represents a key milestone in the company’s expansion into high-growth micro markets, highlighting that the location’s proximity to the upcoming biodiversity park and rising residential demand enhances the project’s appeal.
The Yelahanka project adds to a series of recent acquisitions and launches by Shriram Properties in Bengaluru. In July, the company introduced a residential development in Electronic City under the working title Codename: The One. That project has a revenue potential exceeding ₹350 crore and will include 340 two- and three-bedroom apartments with about 500,000 sq ft of built-up area. Delivery is targeted within three years.
Earlier this year, SPL also acquired a five-acre parcel in North Bengaluru with an expected revenue potential between ₹200 and ₹250 crore. Together, these projects demonstrate the developer’s continued focus on Bengaluru as its primary growth market.
Shriram Properties has outlined medium-term objectives of reaching sales worth ₹5,000 crore, revenues of about ₹3,000 crore, and profits above ₹250 crore over the next three years. Managing director Murali Malayappan has previously emphasised the company’s reliance on Bengaluru for driving its sales pipeline while expanding into other southern markets, including Chennai, Coimbatore, Visakhapatnam, and Kolkata.
As of date, the company has delivered approximately 44 projects across five cities, spanning more than 24 million sq ft of residential and commercial space.
The Yelahanka area has emerged as a preferred location due to its connectivity, educational and healthcare infrastructure, and growing presence of commercial establishments. With the planned biodiversity park nearby, the project is expected to attract buyers seeking residential options with improved urban amenities and environmental features.
Shriram Properties has been consistently using the joint development agreement model as part of its asset-light strategy. Instead of outright land acquisition, the company collaborates with landowners, reducing upfront capital outflow and maintaining financial discipline. This model has enabled SPL to scale operations faster across multiple locations without taking on significant debt exposure.
Image source- freepik.com
.png)