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Shriram Properties Ltd has acquired 100 % equity shares in Shrivision Upscale Spaces Private Limited, making the real estate development firm a wholly owned subsidiary. The acquisition, completed on a cash basis with shares purchased at par value, was disclosed in a regulatory filing on Monday. Shrivision Upscale Spaces, incorporated in late 2022, is engaged in real estate development and construction but has reported no turnover in recent years. Shriram Properties described the acquisition as strategic and undertaken for business reasons, and noted that it does not involve any related party transactions or promoter interests. The move aligns with the company's broader objective of augmenting its development portfolio and operational base in India's residential property sector.
Shriram Properties Ltd has completed the acquisition of Shrivision Upscale Spaces Private Limited, a regulatory filing by the real estate developer said earlier this week. The transaction, executed on February 9, 2026, involved the purchase of 100 % of the equity shares of the target company, which has now become a wholly owned subsidiary. Advertisement
The entire share capital of Shrivision Upscale Spaces was acquired for cash at INR 10 per share, the par value of the equity shares. According to the filing, the acquired company had a paid-up share capital of INR 1 lakh and reported nil turnover as of the last financial year ending March 31, 2025.
Shrivision Upscale Spaces was incorporated in December 2022 and operates in the real estate development and construction sector. While it has not generated revenue in recent reporting periods, Shriram Properties said the acquisition was undertaken for strategic business reasons and is aligned with its core operations in residential development. The company emphasised that the transaction is not a related party deal and that neither the promoters nor promoter group entities of Shriram Properties have any interest in the acquired entity.
The acquisition is part of a broader trend among Indian real estate developers to expand their operational footprint and consolidate smaller entities within their group structures to support future project pipelines and leverage development capacities. Shriram Properties, which is listed on Indian exchanges and focuses on mid-market and mid-premium residential segments, has previously pursued strategic acquisitions and joint ventures to enhance its portfolio.
Shriram Properties has delivered a significant number of projects across key urban markets, including Bengaluru, Chennai and Kolkata, and maintains a pipeline of developments across multiple micro-markets. The integration of Shrivision Upscale Spaces could support the company in scaling up its project execution capacity, though specific plans for the subsidiary's future role or projects were not disclosed in the filing.
The company's transaction complies with regulatory disclosure requirements under Indian securities laws, and no governmental approvals were required for the acquisition, according to the statement.
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