Shriram Properties names two independent directors, subject to shareholder approval

Shriram Properties Limited has appointed two new independent directors, subject to the approval of its shareholders. The company announced on 22 October 2026 that its board had named Mrs. Revathy Iyer and Dr. R. Seetharaman as additional, non-executive independent directors. The announcement covers board composition only. It does not include any project, land deal, financial result or price figure.

Who the new directors are

Revathy Iyer holds a master's degree in chemistry from the University of Delhi. She is a former central board member of the Reserve Bank of India and a former Deputy Comptroller and Auditor General for government accounts. She has held senior posts in the Indian Audit and Accounts Service since 1980.

Dr. R. Seetharaman was chief executive of Doha Bank from 2007 to 2022, when he resigned after 15 years in the role. He is currently an independent director on the board of L&T Finance Limited. Coverage of the appointment does not state a term for his role at Shriram Properties.

Iyer's term has been reported as five years from 22 October 2026, subject to shareholder approval. The company's announcement itself does not set out the length of either appointment in the material reviewed.

The board before the change

A stock exchange notice dated 12 August 2026 showed a board with four independent directors and one non-executive non-independent director. The earlier independent directors were T.S. Vijayan, Anita Kapur, K.G. Krishnamurthy and Prof. R. Vaidyanathan. The notice does not show the board count after the October appointments.

The company is led by M. Murali, who is its chairman and managing director and an individual promoter. Its stock is listed on the NSE under the symbol SHRIRAMPPS and on the BSE under scrip code 543419. At its fifth annual general meeting on 26 September 2026, shareholders adopted the audited financial statements for FY26. M/s. Abarna & Ananthan were appointed as new statutory auditors.

Recent land and business activity

The board change comes after a run of land deals in Bengaluru. The company's main markets are Bengaluru and Chennai, with further operations in Coimbatore, Visakhapatnam and Kolkata, and it also lists Pune as a key market.

• 15 June 2026: Joint development agreement for 9.1 acres at Doddagubbi in North-East Bengaluru, with about 6.7 lakh sq ft of saleable area and an estimated gross development value above ₹600 crore.
• 16 February 2026: Acquisition of a 4-acre land parcel on Sarjapur Main Road in South-East Bengaluru.
• Equity stakes in four joint ventures, for a cash consideration of ₹37 crore. Completion was targeted for 30 September 2026.
• Pipeline of 41 projects with 35.2 million sq ft of development potential, including 16.6 million sq ft of ongoing projects, as of 31 March 2026.

The company's own release describes its track record as 50 delivered projects covering 30.8 million sq ft of saleable area.

What to watch

The appointments take effect only after shareholders approve them, so the first step is that vote. For investors, the more important numbers are the pipeline and whether the Doddagubbi project launches in the current financial year, as the company has indicated. The board change itself does not alter the company's financial outlook, and the announcement carries no stated effect on home buyers.