Shriram Properties gains after inking JDA to develop residential apartment in Bengaluru

Shriram Properties rose 1.47% to Rs 91.33 after the company has signed a joint development agreement (JDA) for approximately 6.5 acres of prime land in North Bengaluru, with an estimated gross development value (GDV) of around Rs 500 crore.

The company will develop a premium residential apartment project with a saleable area of approximately 0.6 million square feet.

The project is strategically located adjacent to the upcoming large state park in Yelahanka, one of North Bengaluru?s most promising residential hubs and the project is planned for launch during the next fiscal year. The project will overlook the proposed Madapanahalli Biodiversity Park, spread across 154 acres of eucalyptus plantations, featuring a medicinal garden, aviary, zoo, and tree park.

Akshay Murali, vice president ? business development at Shriram Properties said, ?This project marks a significant milestone in our journey to create landmark developments that blends luxury living with ecological harmony. Yelahanka?s evolving landscape and its proximity to the upcoming biodiversity park make this location truly unique. We are excited to bring a thoughtfully designed residential experience to this vibrant part of Bengaluru.?

Shriram Properties (SPL) is one of India's leading residential real estate developer, focused on the mid-market and mid-premium segments. SPL?s key markets include Bangalore, Chennai and Kolkata.

The company's consolidated net profit jumped 18.1% to Rs 20.59 crore in Q1 FY26 compared with Rs 17.44 crore in Q1 FY25. Net sales increased 57.4% YoY to Rs 242.32 crore in Q1 FY26.

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