Shriram Properties has signed a Joint Development Agreement (JDA) for a premium residential project in Doddagubbi, North-East Bengaluru. The project spans 9.1 acres and features a development potential of approximately 6.7 lakh sq. ft., with an estimated Gross Development Value (GDV) potential of over ₹600 crores. The company plans to launch the project during the current financial year, targeting the mid-premium segment with a focus on asset-light development models.

Project Overview

The development is envisioned as an exclusive, scenic lake-facing apartment complex. Key project parameters include:

Strategic Significance

Strategically located in the North-East Bengaluru corridor, the site offers connectivity to key parts of the city via Thanisandra Main Road, Hennur Road, Outer Ring Road, and the airport corridor. This location provides access to major IT hubs, commercial centres, educational institutions, and healthcare facilities. The project emphasizes natural ventilation, green spaces, and modern lifestyle conveniences, aiming to create a balanced living environment.

Mr. Akshay Murali, Vice President - Business Development, Shriram Properties, stated that North-East Bengaluru is a promising residential growth corridor supported by infrastructure upgrades and sustained end-user demand. He emphasized that the development aims to create a differentiated community prioritizing space, comfort, and quality living.

This transaction strengthens Shriram Properties' development pipeline in Bengaluru and aligns with its strategy of expanding through asset-light models in high-potential micro-markets.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE217L01019/639f79c3c8854878.pdf

Shriram Properties has commenced remote e-voting to seek shareholder approval for material related party transactions for the financial year 2026-27. The company requires this approval as the aggregate value of transactions with individual special purpose vehicles (SPVs) is expected to exceed the limits specified under Regulation 23 of the SEBI Listing Regulations. These transactions are essential for funding project expenses, providing corporate guarantees, and covering sales and marketing costs.

The Board of Directors at its meeting held on May 25, 2026, approved the proposal and appointed Mr. P Sriram or Ms. Nithya Pasupathy, partners of SPNP & Associates, as the scrutinizer for the e-voting process. The Audit Committee and the Board have recommended the ordinary resolution, noting that the transactions are in the ordinary course of business and conducted at arm’s length. None of the directors, key managerial personnel, or promoters hold any direct interest in the related parties involved.

The company’s consolidated turnover for FY 2025-26 stood at ₹1,267.41 Crores, limiting the threshold for material related party transactions to ₹126.74 Crores per related party for FY 2026-27. Despite achieving a booking value of ₹2,354 Crores in the previous financial year, revenue recognition was lower due to Indian Accounting Standards 115. The proposed transactions include inter-corporate deposits, corporate guarantees, and administrative fees, with interest rates set at 14% per annum and guarantee commission at 1% per annum.

E-Voting Schedule and Process

Remote e-voting commences on Friday, June 12, 2026, at 09:00 Hrs and concludes on Saturday, July 11, 2026, at 17:00 Hrs. Shareholders whose names appear in the Register of Members or List of Beneficial Owners as on the cut-off date of Friday, June 5, 2026, are eligible to vote. The company has engaged NSDL to facilitate the e-voting process, and physical ballot forms will not be dispatched.

The results of the postal ballot, along with the scrutinizer’s report, will be announced on or before Tuesday, July 14, 2026, at the corporate office in Bengaluru. The outcome will be communicated to BSE Limited and National Stock Exchange of India Limited and displayed on the company’s website and the NSDL e-voting portal.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE217L01019/f070cc16d1f44ba7.pdf