On 25 November 2022, after the company announced its acquisition of whole shares in Suvilas Realities, Shriram Properties (SPL) jumped 2.43 per cent to Rs 75.75. The wholly owned subsidiary of Shriram Properties Shriprop Builders has acquired stakes in Survilas Realities for total consideration of Rs 30 crore.

The company has to develop under the development management arrangement with Shriram Properties and monetise at the early stage. During the third quarter of FY23, SPL is proposing to launch both projects again under a new identity and planning to be one of the largest developments in West Bengaluru with 2, 2.5 and 3 bedroom offerings.

India’s leading residential real estate development companies focus on mid-market and affordable housing categories. The key markets include Kolkata, Bangalore and Chennai, which account for nearly 85 per cent of its development activities. 

The net profit of Shriram Properties reported Rs 19.58 crore in the second quarter of FY23 as compared to a net loss of Rs 23.28 crore in the second quarter of FY22. Net sales rose 240 per cent annually to Rs 258.55 crore in the second quarter of FY23.