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Company details

6M Return 80.79%
1Y Return 41.98%
Mkt Cap.(Cr) 2,024.06
Volume 4,950,140
Div Yield 0.00%
OI Chg %
Volume 4,950,140

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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

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Operating Profit
Profit after Tax
Reserves and Surplus
Operating Profit
Profit after Tax

Shriram Properties Ltd Stocks COMPARISION


Equity Capital: 1,199.81 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 21,819.21 39,849.27
LAST 3M 59,182.99 17,912.96
LAST 6M 101,166.54 92,564.27
LAST 12M 166,925.45 138,096.90

Shriram Properties Ltd Information

Stock PE (TTM)
Promoter Holding
Book Value
  • Shriram Properties Limited was originally incorporated as `Synectics Infoway Private Limited` on 28 March 2000 at Chennai, Tamil Nadu. Subsequently, name of the Company changed to Shriram Properties Private Limited on 28 March 2003. The Company converted to a Public Limited Company and the name was changed to Shriram Properties Limited on 24 October 2018 and a fresh Certificate of Incorporation consequent upon change of name was granted by the RoC on 10 December 2018. Shriram Properties is engaged in providing real estate construction and property development services. The Company is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories. The Company is among the five largest residential real estate companies in South India in terms units launched across cities of South India including Bengaluru, Chennai and Hyderabad. The Company commenced operations in Bengaluru in the year 2000 and have since expanded its presence to other cities in South India, i.e., Chennai, Coimbatore and Visakhapatnam. In addition, it has presence in Kolkata, where it is developing a large mixed project as cities including, Bengaluru, Chennai and Hyderabad are key markets for the Company. In 2017, it acquired Horus Holdings Pte. Ltd of Shriram Properties and Infrastructure Private Limited located in a SEZ in Chennai. In 2018, the Company signed a Memorandum of Understanding(MOU) with ASK Property Investment Advisors Private Limited for funding of residential real estate projects in Bengaluru and Chennai In 2019, the first project "Shriram Earth" was launched in April, 2019 at Bengaluru. The Company got into an agreement with Kotak India Affordable Housing Fund - 1 for investment of Rs 400 million for development of Shriram Grand Two, an affordable housing project in Kolkata. As of March 31, 2022, the Company had 29 completed projects, representing 16.8 msf of saleable area, out of which 24 projects are in the cities of Bengaluru and Chennai, accounting for 91% of saleable area. As of March 31, 2022, it had a total portfolio of 51 projects, with ongoing projects and upcoming projects, which consists 26 ongoing projects and 25 upcoming projects, of total estimated saleable area respectively. The Company is planning to raise capital from Public aggregating Rs. 800 crore Equity Shares by raising Rs 550 crore through Fresh Issue and Rs 250 crore through Offer for Sale.

Registered Address

Lakshmi Neela Rite Choice Cham, New No 9 Bazullah Road T Nagar, Chennai, Tamil Nadu, 600017

Tel : 91-44-4001 4410
Email : cs.spl:shriramproperties.com
Website : http://www.shriramproperties.com

KFin Techologies Ltd

AGM Date (Month) : Sep
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 543419
Book Closure Date (Month) :
BSE Group : B
ISIN : INE217L01019

FAQ’s on Shriram Properties Ltd Shares

You can buy Shriram Properties Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Shriram Properties Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Dec 08, 2023 04:05 PM the closing price of Shriram Properties Ltd was ₹ 119.05.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Dec 08, 2023 04:05 PM, the market cap of Shriram Properties Ltd stood at ₹ 2,024.06.

The latest PE ratio of Shriram Properties Ltd as of Dec 08, 2023 04:05 PM is 27.25

The latest PB ratio of Shriram Properties Ltd as of Dec 08, 2023 04:05 PM is 0.62

The 52-week high of Shriram Properties Ltd is ₹ 129.00 while the 52-week low is ₹ 53.00

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