trending Market Intelligence /marketintelligence/en/news-insights/trending/upnkfghwrssvttbycx7iuw2 content esgSubNav
In This List

Mitsubishi teams up with Shriram Properties in maiden Indian real estate foray

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


Mitsubishi teams up with Shriram Properties in maiden Indian real estate foray

Mitsubishi Corp., in its first foray in India's real estate sector, is investing 1.80 billion rupees in a joint residential project in Chennai, India, with local developer Shriram Properties Pvt. Ltd., The Economic Times of India reported.

Through the investment, the Japanese conglomerate will take up 70% of the Shriram Park 63 project. It has the potential to deliver 10.00 billion rupees in revenue within the next three to four years, according to the paper.

Over 25% of the project, which is planned to feature more than 1,450 residential units and 2 million square feet of salable area, has been pre-sold, Shriram was cited in the Sept. 6 report as saying.

For the local builder, the Mitsubishi tie-up is an extension of a strategy that is aimed at capitalizing on the strengths of both partners to achieve superior value, the publication added.

As of Sept. 6, US$1 was equivalent to 72.02 Indian rupees.