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Shriram Properties has reported a net profit of INR 8.57 crore in the September quarter, reversing a loss from the previous year, supported by higher revenue of INR 229.01 crore. The company expects improved performance in the second half of the fiscal, aided by a strong project pipeline and execution focus. Shriram Properties continues to expand its project portfolio and enhance cash flow generation. With a presence in Bengaluru, Chennai, Pune, and Kolkata, the firm has successfully delivered 48 projects totaling 29.2 million sq ft of saleable area.
Shriram Properties Ltd reported a consolidated net profit of INR 8.57 crore in the September quarter, marking a turnaround from a net loss of INR 0.79 crore in the same period last year. Total income for the quarter rose to INR 229.01 crore from INR 155.10 crore in the corresponding period of the previous fiscal, according to the company's regulatory filing. Advertisement
Gopalakrishnan J, Executive Director and CEO of Shriram Properties, noted that the financial performance remained somewhat muted but expressed optimism as transitional challenges eased. He mentioned that with a strong project launch pipeline and continued execution focus, the company anticipates a healthy rebound in the second half of the fiscal and expects to meet full-year targets.
The CEO highlighted that the company continues to prioritize expanding its project pipeline and accelerating execution to generate cash flows and enhance overall value creation. Shriram Properties is a prominent residential real estate developer in India with operations in Bengaluru, Chennai, Pune, and Kolkata. Over the years, it has delivered 48 projects covering a saleable area of 29.2 million sq ft.
Source PTI
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