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Shriram Properties Results: Latest Quarterly Results & Analysis

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Shriram Properties Ltd. 12 Nov 2025 14:09 PM
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Q2FY26 Quarterly Result Announced for Shriram Properties Ltd.

Realty company Shriram Properties announced Q2FY26 results

  • Total Revenues: Rs 229.0 crore against Rs 155.1 crore during Q2FY25.
  • EBITDA: Rs 23.3 crore against Rs 13.5 crore during Q2FY25.
  • PBT: Rs -1.1 crore against Rs -16.2 crore during Q2FY25.
  • PAT: Rs 8.6 crore against Rs -0.8 crore during Q2FY25.

Gopalakrishnan J, Executive Director & CEO, Shriram Properties, said: “Q2 has been an encouraging quarter operationally, with strong sequential and year-on-year growth. Financial performance was muted a bit, but with transitionary issues easing, we expect a healthy rebound in H2. Supported by a strong launch pipeline and execution focus, we are confident of delivering stronger H2 and meeting full year targets. Our focus remains on expanding the project pipeline and accelerating execution to unlock cash flows and enhance value creation. We are on right path towards delivering on our 3-year mission objectives. With a resilient business model and positive sector fundamentals, we are confident of delivering substantial value creation for our stakeholders”.

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Realty company Shriram Properties announced Q1FY26 results

  • Revenue from operations stood at Rs 242 crore ( 57% YoY). Total revenues were higher by 24% YoY at Rs 262 crore, reflecting continued strong handover trends.
  • Gross margins remained healthy at 34%, compared to 31% in Q1FY25. Accordingly, gross profit for the quarter grew by 70% YoY to Rs 82 crore. Reported EBITDA was at Rs 47 crore, reflecting EBITDA margins of 18% in Q1FY26.
  • Net debt stood at Rs 380 crore and Net Debt-Equity remained healthy at 0.28x.
  • Reported Net Profit of Rs 21 crore in Q1FY26, the highest ever first quarter earnings since listing.
  • Overall finance cost declined 16% YoY to Rs 22 crore in Q1. Interest expenses were lower at Rs 21 crore (-10% YoY), reflecting lower gross debt. Non-cash finance charges were significantly lower, thus impacting overall finance costs positively during this period.

Murali M, CMD, Shriram Properties said: “Q1 results reaffirm the strength of our operating platform, which has again delivered robust performance. Our Pune entry has been successful, and we are committed to growing our presence even further. We remain focused on pipeline additions for sustaining growth momentum. While doing so, we will accelerate execution to unlock cash flows from ongoing projects for superior value creation”.

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Realty company Shriram Properties announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Revenues have more than doubled sequentially to Rs 427.5 crore,
  • EBTIDA has more than doubled to Rs 89.2 crore in Q4FY25
  • Net profit for the quarter stood at Rs 47.7 crore, up 137% YoY & up 267% QoQ in Q4FY25
  • On a quarterly basis, the Company reported sales volumes of 1.3 msf ( 5% QoQ), valued at Rs 673 crore, in Q4FY25

FY25 Financial Highlights:

  • Total Operating Income at Rs 949.2 crore and Total Revenues stood nearly flat at Rs 973.4 crore in FY25.
  • The cost of revenue remained nearly flat and thus delivered healthy gross margins of 30%. EBITDA margins stable at 21% and EBITDA nearly flat at Rs 203 crore in FY25.
  • Overall finance cost is down 11% YoY to Rs 104.6 crore in FY25. Interest expenses were lower at Rs 90.4 crore (-16% YoY).
  • Net debt reduced by 26% to Rs 326 crore, thus resulting in debt-equity of only 0.24x, compared to 0.35x last year, which is amongst lowest in the industry.
  • The Company has reported highest ever Net profit since listing of Rs 77.3 crore in FY25.
  • The Company has generated Cashflows from Operations (CFO) of Rs 305 crore and Free Cash Flow (FCF) before new project investments of Rs 273 crore in FY25, compared to Rs 156 crore in FY24.

Commenting on the performance, Murali M, CMD of Shriram Properties said: “Our results reflect the strength of our operating platform that has once again demonstrated resilience and overcome external-led challenges to deliver satisfactory operational and financial performance during FY25. We are entering FY26 with strong momentum and a clear strategic focus. Resilient demand for housing, especially in the mid & mid-premium segments, presents a significant opportunity. At SPL, we are well-positioned to capitalize on this. Our focus will remain on faster execution to unlock cashflows from ongoing projects while we build stronger project pipeline for sustainable growth. We are committed to delivering long-term value for all stakeholders”.

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Realty company Shriram Properties announced Q3FY25 results

Financial Highlights:

  • Total Revenues for Q3FY25 stood at Rs 179.9 crore, declining 25% YoY from Rs 240.6 crore.
  • EBITDA increased 14% YoY to Rs 43.9 crore compared to Rs 38.6 crore.
  • Profit before share of JV Income grew 67% YoY, reaching Rs 14.7 crore from Rs 8.8 crore.
  • Profit Before Tax (PBT) rose 4% YoY to Rs 14.3 crore, compared to Rs 13.8 crore.
  • Net Profit declined 30% YoY to Rs 13.0 crore from Rs 18.5 crore.

Business Highlights:

  • Satisfactory financial performance despite deferred revenue recognition in 2 key projects due to delayed receipt of regulatory clearances (OC/CC).
  • SPL reported total revenues of Rs 179.9 crore in Q3, driven by handovers in recently completed projects. Revenue growth would have been strong but for deferment two project handover/revenue recognition to Q4.
  • Despite constrained revenue base, overall profitability remained stable – with gross margins at around 31%, EBIDTA margins of 24%, PBT margins of 8% and PAT margins of 7%.
  • Net debt dropped to Rs 401.0 crore at the end of Q3, and net debt-equity ratio stood low at 0.31:1, which is amongst the lowest in the industry
  • Cashflows remained strong during the quarter. Cash from operations positive at Rs. 59 crore and the Company made new project investments of Rs 42 crore during Q3FY25.

Murali M, CMD, Shriram Properties said: “Our quarterly performance is masked by certain short term challenges, but underlying trends are encouraging. We are firmly back on track with new launches and handovers. Our strategic initiatives, backed by a solid project pipeline and an exceptional execution platform, will enable us to sustain growth and fulfill our commitments. With an unwavering focus on timely delivery and quality, we are wellpositioned to drive profitable growth in the years ahead.”

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Realty company Shriram Properties announced H1FY25 results

  • Total revenues are marginally lower at 366.0 crore.
  • Deferral of income recognition in Q2 had impact on H1FY25.
  • EBIDTA of 66.9 crore and consolidated PAT of Rs 16.7 crore for H1FY25.

Murali M, CMD, Shriram Properties, said: “Q2FY25 is short-term aberration for the sector that witnessed reduced launches. Long term prospects for the sector remains positive and our strong market presence and success of our strategic initiatives will enable us in maintaining growth and delivering on promises even in the coming years. Our solid project pipeline, a strong execution platform, and our unwavering focus on costs and quality will contribute towards profitable growth even in the future”.

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Realty company Shriram Properties announced Q1FY25 results:    

  • Revenue from operations grew by 14% YoY and Total Revenues by 34% YoY to Rs 210.9 crores. Revenue recognition in recently completed projects viz., Shriram Liberty Square (Bangalore), Shriram Park 63 - 1B (Chennai), Shriram Chirping Woods T5 (Bangalore) Shriram Grand One (Kolkata) accounted for most of revenues. Gain of early exit of ASK has also helped. 
  • EBITDA for the quarter stood at Rs 53.6 crores, compared to Rs 53.3 crores in Q1FY24, flat YoY. Change in mix of projects handovers (low margin legacy projects) and higher employee costs reflecting annual revisions impacted margins.
  • EBITDA margins thus stood at 25% in Q1FY25, compared to 34% in Q1FY24. Gross margins remained healthy at 31% during the quarter.
  • Overall finance cost dropped 19% YoY to Rs 26.7 crores in Q1FY25. Interest costs declined from Rs 27.8 crores in Q1FY24 to Rs 22.8 crores during Q1FY25. Non-cash interest charges too dropped from Rs 5.1 crores to Rs 3.9 crores respectively during this period.
  • Net debt was only a shade higher at Rs 482.0 crores in Q1 and debt-equity ratio stood low at 0.37:1, which is amongst lowest in the industry.
  • Profit before taxes for Q1 stood at Rs 27.3 crores. Net profit at Rs 17.5 crores in Q1FY25 reflected a modest growth compared to Rs 16.6 crores in Q1 last year. 
  • Cashflows remained strong even during the quarter. Cash from Operations remained positive at Rs 30 Crore, but free cashflow turned marginally negative reflecting debt repayment during the quarter. The Company made new project investments of Rs 44 crores during Q1 FY25, thereby ending the quarter with Cash & Cash equivalents of Rs 128 crores.

Commenting on the performance, Mr Murali M, CMD, Shriram Properties said: “Our strong market presence and success of our strategic initiatives give us confidence in maintaining growth and delivering on promises in the years to come. Our solid project pipeline, a strong execution platform, and our unwavering focus on costs and quality will contribute towards profitable growth even in the future”. 

 

 

 

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Realty company Shriram Properties announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • On a quarterly basis, Total Revenues have more than doubled to Rs 358 crore while EBTIDA has grown by an impressive 45% YoY to Rs 66 crore in Q4FY24.
  • Net profit for the quarter stood at Rs 20 crore, up 28% YoY in Q4FY24.

FY24 Financial Highlights:

  • Total Revenues have grown 21% YoY to Rs 987 crore on the back of successful completion and revenue recognition in certain key projects viz., Shriram Liberty Square (Bangalore), Shriram Park 63 - 1B (Chennai), Shriram Chirping Woods T5 (Bangalore) Shriram Grand One (Kolkata). Revenue recognition with handover of units in certain other projects continued as well.
  • EBITDA for the full year stood at Rs 223 crore, compared to Rs 183 crore in FY23, reflecting a growth of 22% YoY. EBITDA margins remained stable at 23% in FY24.
  • Interest expenses remained flat at Rs 74 crore, despite absorption of interest costs associated with the re-acquisition of JV economic interest in Shriram Park63 from Mitsubishi Corporation during Q3FY24. Overall finance cost however is higher by 11% YoY, due to certain one-time interest costs associated with the acquisition of Shriram 122 West in Q1FY24.
  • SPL’s cost of debt dropped further to 11.6%, as compared to 11.9% in FY23. It compares favourably with average cost of 13.7% in FY21 and such steep reduction is despite the RBI rate hike impact (approx. 200bps) during this period. The cost of incremental debt is now in the 10.0% - 10.5% range, which is encouraging.
  • Net debt remained almost flat at Rs 441 crore and debt-equity declined marginally to 0.35:1, which is amongst lowest in the industry.
  • Net profit improved to Rs 75 crore in FY24, compared to Rs 68 crore in FY23, up 10% YoY
  • Consolidated cashflows from operations nearly doubled to Rs.227 crore in FY24. The Company has realised free cashflows (FCF) before new project investments of Rs 156 crore in FY24, compared to Rs 116 crore in FY23. Notably, supported by project completions, the Company has unlocked free cashflows of around Rs 272 crore in last two years, which has played significant role in augmenting new projects towards sustaining growth momentum in the future.

Commenting on the performance, Murali M, CMD, Shriram Properties said: “Our recordbreaking results are a testament to our commitment to growing the business profitably, year-afteryear. We have achieved significant milestones during the year, notwithstanding certain external-led delays in receipt of approvals and OCs. Our teams have worked diligently to overcome challenges and deliver on promises. Supported by our strong market presence and success of strategic initiatives, we are confident of sustaining growth and profitability in the coming years. Our robust launch pipeline, strong execution platform coupled with continued focus on cost management and commitment to delivering quality will support towards this end”.

Result PDF

Realty company Shriram Properties announced 9MFY24 results:

  • Total Revenues remained nearly flat at Rs 629 crore in 9MFY24. DM Fee contributed approximately 10% of total revenues, indicating the stabilization of the DM business model.
  • Total Operating Expenses decreased by 7% YoY to Rs 472 crore, despite normal increases in employee costs and higher other expenses, mainly related to marketing activities.
  • EBITDA increased by 14% YoY to Rs 157 crore, and EBITDA margins stood strong at 25%, compared to 21% in 9MFY23. Improved margins reflect the benefits of the changed product mix and higher price realization, surpassing the industry average growth during this period.
  • Finance costs rose by 15%, but interest expenses remained nearly flat on a YoY basis. This is despite absorbing interest associated with the re-acquisition of JV economic interest in Park63 from Mitsubishi Corporation and one-time costs related to the acquisition of Shriram 122 West.
  • Gross debt stood at Rs 508 crore compared to Rs 553 crore in Mar’23. The stabilization of the cost of debt at 11.5% to 12%, despite the impact of RBI rate hikes, is encouraging.
  • Net Profit reached Rs 55 crore, compared to Rs 52 crore in 9MFY23 and Rs 68 crore in FY23.
  • The Company reported a Return on Capital Employed (ROCE) of 11%, which is among the highest in the sector.

Commenting on the performance, M Murali, CMD of Shriram Properties said: “We are excited to announce our entry into the Pune markets. Given the strong familiarity to the “Shriram” brand and our proven track record, we are confident of successful entry and expansion into this large, growth market.

Our performance for the year so far is satisfactory. Current quarter witnessed muted growth due to certain adversities but are fully equipped to recoup lost impact during Q4FY24. We thus remain confident on the full yearFY24 and our growth over the next few years. Given the positive market dynamics and strong pipeline, we remain confident of sustaining profitable growth and delivering superior returns to our stakeholders”

Result PDF

Realty company Shriram Properties announced Q1FY24 results:

  • Sales volume at 0.78 MSF ( 17% YoY) and Sales values at Rs 459 crore ( 47% YoY)
  • Revenue from Operations grew 10% YoY to Rs 135.0 crore, reflecting continued handover and registration momentum in recently completed projects. Total Revenues grew by 8% YoY to Rs 157.2 crore and DM Fee income accounted for 12% of Total Revenues.
  • Total Operating Expenses declined 5% YoY to Rs 103.8 crore, supported by a 15% lower cost of revenues and 2% lower employee costs. Reflecting improved revenue recognition and cost control, EBITDA margins stood strong at 34%, against 24% in Q1FY24.
  • Interest expenses were down 14% YoY at Rs 16.0 crore (vs. Rs 18.7 crore in Q1FY23). In addition, the Company has provided for a non-cash finance charge of Rs 5.1 crore (same on a YoY basis and relates to 4% NCF on Bengal) and non-recurring interest cost of Rs 6.9 crore associated with the acquisition of a new project in Chennai during May’23.
  • Remarkable reduction in recurring interest expenses reflects the success of our ongoing efforts to reduce absolute debt and cost of debt. SPL expects the cost of debt to drop to ~11.5% levels in Q2FY24, from 11.9% in FY23 and 13.7% in FY21, amidst rising benchmark rates.
  • Profit Before Tax and JV Income stood at Rs 18.3 crore, up 134% YoY, in Q1FY24.
  • The Company’s share of profits from JVs stood at Rs 6.1 crore reflecting sustained revenue recognition momentum at Shriram Park63 Chennai, a JV with Mitsubishi Corporation of Japan. The impact was partly offset by SPL’s share of marketing and refinancing costs at three other JVs that have not yet reached revenue recognition thresholds.
  • Net Profit stood at Rs 16.6 crore in Q1FY24, compared to Rs 10.5 crore in Q1FY23, reflecting a growth of 59% YoY.
  • The Company has strong visibility on income recognition from projects scheduled for completion and handover during the remainder of the year and thus remains confident of strong earnings momentum for the full year.
  • The Company’s gross debt stood 12% lower at Rs 488 crore, while net debt stood at Rs 403 crore as of June 30, 23.

Commenting on the performance, M Murali, CMD, of Shriram Properties said, “We are encouraged by the continuing strong operating and financial performance. Our impressive results achieved by Shriram Properties serve as a resounding testament to our unwavering dedication and strategic approach. These favourable results not only validate our relentless pursuit of excellence but also fortify our resolve to continuously enhance the Company’s landscape. Looking ahead, with our launches we remain positive in our commitment to, delivering homes and contributing meaningfully to the growth of the Company."

Result PDF

Realty company Shriram Properties announced Q4FY23 & FY23 results:

  • Sales value reached a new high of Rs 1,846 crore, up 25% YoY
  • Gross collections stood strong at ~Rs 1,200 crore, despite delayed launch impact
  • On a quarterly basis, Q4FY23 performance was impressive as well. Quarterly sales stood at 1.31 msf, up 26% QoQ and 12% YoY. Gross collections grew by 24% QoQ to Rs 307 crore in Q4FY23.
  • Total Revenues have grown 57% YoY to Rs 814 crore in FY23
  • EBITDA stood at Rs 183 crore in FY23. EBITDA margins stood at 22%.
  • Net profit soared to Rs 68.3 crore, reflecting 3.8x growth compared to Rs 18 crore in FY22
  • The Company’s gross debt stood at Rs 553 crore and net debt at Rs 432 crore in Mar’23. Debt-Equity ratio at 0.36x is among the lowest in the sector.
  • SPL assigned “A-/Stable” by CRISIL Ratings

Commenting on the performance, M Murali, CMD, Shriram Properties said: “We are encouraged by the strong improvement in operating and financial performance, consistent with our promises. Our operating platform remains robust and resilient and is fully geared to leverage our strength in the consolidating industry environment. FY23 Earnings turnaround is encouraging and are confident of sustained improvement in earnings and profitability. SPL is emerging as one of the fastest growing and profitable residential real estate company”.

 

 

 

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