Real estate developer Shriram Properties Ltd (SPL) has announced the acquisition of a 4-acre land parcel in Chandapura, Bengaluru.

According to the company’s statement, the project has a revenue potential of over ₹250 crore and is expected to be developed over the next three years.

The company aims to launch the project during FY25.

Murali Malayappan, Chairman & Managing Director of SPL said, “This strategic investment aligns perfectly with our goal of bolstering our presence in Bengaluru, one of our core markets. Chandapura emerges as a vital micro-market with an anticipated surge in demand from the mid-market segment in the foreseeable future.”

Shriram Properties stock rose 2.89 per cent to trade at ₹124.50 on the NSE as of 12.21 pm.