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Investor demand spikes as Shriram Properties secures new Chennai housing deal
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Shares of Shriram Properties advanced 6% following a new Chennai project agreement expected to strengthen cash flow and revive housing-sector confidence.
Shriram Properties climbed 6% to ₹93.25 after confirming a fresh development agreement for a large residential project in Chennai. The pact adds premium inventory to its portfolio and signals sustained confidence in southern housing demand. Trading activity surged on the NSE, reflecting improved sentiment for mid-tier developers. Market analysts expect the project to lift cash flows and accelerate quarterly revenue recognition. The momentum underscores a broader recovery in urban real estate driven by lower borrowing costs and steady home-buyer interest.