Shriram Properties targets 25% sales growth

New Delhi Realty firm Shriram Properties is targeting a 25 per cent growth in sales bookings this fiscal from a record Rs 1,846 crore in the previous year on strong housing demand, its CMD M Murali said.

The company's Chairman and Managing Director M Murali said the housing demand has been robust across all price categories, helping the company to post record sales bookings in the 2022-23 fiscal. Shriram Properties achieved an all-time high sales bookings of Rs 1,846 crore last fiscal, up 25 per cent from Rs 1,482.4 crore in the previous year, driven by higher volumes, better realisation and change in product mix.

Asked about the target of sales bookings for this fiscal, Murali said, "We are looking at about 20 per cent growth in volume terms and 25 per cent growth in value."

Sales volumes of 4.02 million square feet in the last fiscal, which is a new record, as against 3.8 million in 2021-22. The average annual sales realisation grew 8 per cent annually during the last financial year. The company would launch multiple housing projects this fiscal to tap the rise in housing demand, he added. "Market is really good. There has been a very good demand for the mid-income and affordable segment. So, I expect the demand to continue for 3-5 years comfortably due to various factors. Macroeconomic situation is very good and the overall stability in the country is good," Murali said.