Shriram Properties shares gained more than 4% in early trade on Monday after the company announced the signing of a Joint Development Agreement (JDA) for a 9.1-acre land parcel at Doddagubbi in North-East Bengaluru. The new project is expected to strengthen the company's residential development pipeline in one of Bengaluru's rapidly expanding real estate corridors.
At 11:41 AM, Shriram Properties shares were trading near the day's high of ₹91.30 after opening at ₹87.50. The stock touched an intraday low of ₹86.95, compared to its previous close of ₹85.97. Trading activity remained strong with over 8.29 lakh shares changing hands.
The company plans to develop an exclusive lake-facing apartment project on the site with a total development potential of approximately 6.7 lakh square feet. The proposed project carries an estimated Gross Development Value (GDV) of more than ₹600 crore and is scheduled for launch during the current financial year.
Located in the fast-growing North-East Bengaluru corridor, the project benefits from connectivity through Thanisandra Main Road, Hennur Road, Outer Ring Road and the airport connectivity corridor. The location provides easy access to major IT parks, commercial hubs, educational institutions, healthcare facilities, retail centres and entertainment destinations, making it an attractive residential market.
According to the company, the development will feature thoughtfully designed apartments with natural ventilation, landscaped open spaces and modern lifestyle amenities. The lake-facing setting is expected to be a key differentiator, offering residents a blend of urban convenience and natural surroundings.
The latest acquisition aligns with Shriram Properties' asset-light growth strategy, which focuses on expanding through joint development opportunities rather than outright land purchases. Such a model helps optimise capital allocation while allowing the company to scale its project pipeline across high-demand micro-markets.
The addition of the Doddagubbi project further strengthens Shriram Properties' presence in Bengaluru, which remains one of the company's most important markets. The city's continued growth as a technology and business hub has supported sustained demand for residential housing, particularly in well-connected suburban locations.
From a stock performance perspective, Shriram Properties shares have delivered a strong recovery from their 52-week low of ₹60.57, although the stock remains below its 52-week high of ₹105.58.