Shriram Properties Resolves Kolkata Land Dispute, Unlocks ₹3,000 Crore GDV Potential
Shriram Properties Limited has resolved its land dispute in Kolkata by conveying 42.37 acres. This resolution enables accelerated development and unlocks value from the remaining land. The company plans new projects totaling 5-6 million sq ft with a GDV of approximately ₹3,000 crores over the next 5 years.
The resolution of a major land dispute and the unlocking of significant future development potential (₹3,000 crore GDV) are material events that are likely to have a substantial impact on the company's future growth and financial performance.
The resolution of a long-standing commercial dispute and the strategic plan to develop and monetize land parcels, leading to significant future GDV, are positive developments for the company.
Shriram Properties Limited (SPL), through its subsidiary Bengal Shriram Hitech City Private Limited (BSHCPL), has amicably resolved a long-pending commercial dispute with the Government of West Bengal concerning a significant land parcel in Kolkata.
The resolution was achieved by conveying 42.37 acres of land at Uttarpara, West Bengal. This strategic move discharges BSHCPL of its obligations and enables the company to accelerate development and focus on value unlocking from its extensive landholding in Kolkata.
The company's Kolkata land parcel spans approximately 314 acres. Of this, about 48 acres have been utilized for ongoing projects such as Shriram Grand One, Shriram Sunshine One, Shriram Sunshine Two, Shriram Symphony, Shriram Springfield, Shriram SkyBloom Villas, and Shriram Signature Square, aggregating to around 5 million square feet of development, with approximately 80% already sold.
Shriram Properties plans to utilize a portion of the remaining land for its own development while monetizing the rest. The company has projected new projects involving 5-6 million square feet of development with a potential gross development value (GDV) of approximately ₹3,000 crores over the next five years. Additionally, the company intends to monetize the remaining land area and FSI in the foreseeable future, which is expected to unlock significant incremental value.
Mr. Gopalakrishnan J, CEO of Shriram Properties, commented, "We are pleased to have amicably resolved the long-standing commercial differences with the State Government. This settlement enhances our ability to accelerate development, and we are now well positioned to unlock meaningful value in an accelerated manner in the coming years."
Shriram Properties Limited is a leading residential real estate developer focusing on the mid-market and mid-premium segments, with key markets in Bangalore, Chennai, Pune, and West Bengal. As of December 31, 2025, the company had a strong development pipeline comprising 42 projects with an aggregate development potential of 36 million square feet.
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