Shriram Properties Targets Double Profit by FY29 With 50 Million Sq Ft Pipeline and Bengal Mall Plan
Kolkata, West Bengal | September 24, 2026: Shriram Properties is targeting a sharp increase in profitability and sales over the next three years as a large project pipeline moves toward completion, while the company explores a new rental-income model through a premium shopping mall in Uttarpara, West Bengal.
The developer is targeting approximately ₹3,000 crore of realisable income by FY29, more than double the roughly ₹1,400 crore recorded in FY26. It also aims to double net profit and sales bookings as projects currently under construction begin contributing more significantly to revenue.
What Shriram Properties Is Targeting by FY29
Shriram Properties reported ₹100.81 crore consolidated net profit and ₹2,354 crore in sales bookings in FY26.
The company now expects project completions to drive stronger revenue recognition over the next three years.
Its FY29 targets include:
- Realisable income of around ₹3,000 crore
- Doubling of net profit from FY26 levels
- Doubling of sales bookings
- Construction pipeline of approximately 50 million sq ft
- Around 20 million sq ft planned for development over the next 18 months
The company expects the transition from construction to completed projects to support higher revenue and profitability.
50 Million Sq Ft Pipeline Could Expand Future Supply
Shriram Properties has a substantial development pipeline extending through FY29.
Around 20 million sq ft is expected to be developed during the next 18 months, adding to the company's existing presence across Chennai, Bengaluru and Pune.
The developer is also exploring Mumbai and evaluating additional opportunities in the Kolkata region.
For property markets, the size of the pipeline is significant because project launches and completions will determine the company's future housing supply across multiple cities.
Uttarpara Emerges as Shriram's Bengal Growth Platform
Shriram Properties' Bengal operations are anchored by the Shriram Grand City township in Uttarpara, Hooghly.
The company acquired the original land parcel from Hindustan Motors nearly two decades ago. Following a settlement with the West Bengal government involving the transfer of 42 acres, the company has approximately 272 acres remaining in the parcel.
Around 65 acres have been utilised across five projects so far.
These include:
- Two mass residential projects with around 5,700 units
- 198 villas
- Approximately 300 plots
The scale of the remaining land gives the township significant room for additional development.
₹6,000 Crore Mixed-Use Development Planned
Shriram Properties has around 140 acres available for incremental mixed-use commercial development at Uttarpara.
The company estimates potential development of approximately 10–11 million sq ft, with investment of around ₹6,000 crore.
The planned expansion could add commercial uses to an existing township that already includes apartments, villas, row houses and plots.
The broader ecosystem is also expected to include office and retail space along with supporting social infrastructure.
Uttarpara Mall Could Create Shriram's First Rental Income Asset
One of the most significant changes to the company's business strategy is its consideration of developing and retaining a premium shopping mall at Uttarpara rather than selling the commercial asset.
If pursued, the mall would potentially become Shriram Properties' first rental-income property.
The model would give the company an income stream from leasing commercial space instead of relying entirely on property sales.
For Uttarpara, a major mall could also add a new retail and leisure component to the township, potentially increasing the range of services available to residents and surrounding neighbourhoods.
Why the Commercial Expansion Matters for Property Owners
The planned commercial development could gradually change the character of the Uttarpara project from a primarily residential township into a broader mixed-use destination.
For existing and prospective property buyers, the key factors to watch include:
- Retail and mall development
- Office-space additions
- Connectivity improvements
- New social infrastructure
- Residential project completions
- Development of the remaining land
The company's management has highlighted improving connectivity, metro expansion and proximity to three railway stations and the airport as factors supporting the growth potential of Uttarpara.
FY26 Performance Provides the Base for the Expansion
Shriram Properties' FY26 performance provides the financial base for its FY29 ambitions.
Consolidated net profit increased 30.41% to ₹100.81 crore, while total income rose 39.40% to ₹1,356.93 crore.
The company delivered 3,465 homes and plots during the year, while customer collections increased 12% to ₹1,661 crore.
It also added seven new projects with combined development potential of approximately 3.5 million sq ft and an estimated GDV of ₹3,500 crore.
What Happens Next
Shriram Properties will focus on converting its large construction pipeline into completed projects while expanding its development footprint across key markets.
In Bengal, the next major development to watch is the utilisation of the remaining Uttarpara land, including the proposed 10–11 million sq ft mixed-use opportunity.
The potential shopping mall is particularly significant because it could mark a shift for the developer toward retaining commercial real estate and generating recurring rental income.
If implemented, the strategy would give Shriram Properties a combination of residential sales revenue and a longer-term commercial income stream from its Bengal portfolio.