Shriram Properties looking to build south portfolio

Shriram Properties has tapped firms such as Mitsubishi Corp and LIC Housing Finance to raise around Rs 1,700 crore over the past year to build a portfolio of real-estate projects in the south. The realtor has acquired stressed residential assets in the south. It acquired 11 stressed residential assets, totaling 14mn sft. These acquisitions include one from Edelweiss Group’s NBFC arm. Shriram Properties has a total 54.87 million sft either under construction or in the pipeline, across 31 projects.Shriram Properties, is also expected to raise around Rs 1,000 crore through an IPO.