Shriram Properties Faces Cost Surge, Targets Growth Through Chennai

Shriram Properties builds homes and says its construction costs are rising.

The company estimates that projects may cost 8–10% more than expected.

Items connected to oil imports, such as lifts, tiles and bathroom fittings, are especially expensive.

Cement and steel prices have not risen as much.

The company is paying most of the extra costs instead of charging homebuyers the full increase.

It hopes imports from China will make some materials cheaper.

Shriram Properties expects people will continue buying homes because jobs and incomes are increasing.

It plans to grow strongly, with Chennai as an important market.