Shriram Properties’ Q1 net profit rises 18% YoY, revenue up 24%

Synopsis

Shriram Properties Limited announced impressive first-quarter results. Net profit rose 18% to ₹20.6 crore. Total revenue reached ₹261.5 crore, a 24% increase. Revenue from operations jumped 57%. This growth was driven by successful project handovers. The company is expanding its project pipeline. They are evaluating multiple projects. CMD Murali M attributed the success to strong execution.

Bengaluru: Shriram Properties Limited (SPL) has reported a strong first-quarter performance for FY26, with net profit climbing 18% year-on-year (YoY) to ₹20.6 crore, its highest-ever first-quarter earnings since listing.

Total revenue for the quarter stood at ₹261.5 crore, marking a 24% increase from ₹210.9 crore in Q1 FY25. Revenue from operations grew even faster, rising 57% YoY to ₹242 crore, driven by strong handovers from recently completed projects such as Shriram Pristine Estates in Bengaluru, Shriram Park 63 (P2) in Chennai, and Shriram Grand One in Kolkata. Nearly 46% of handovers came from joint venture projects, with revenue impact split between operational income and the share of JV profits.

Gross margins improved to 34% from 31% a year earlier, pushing gross profit up 70% YoY to ₹82 crore. Finance costs fell 16% YoY to ₹22 crore, aided by lower debt levels, with net debt standing at ₹380 crore and a healthy net debt-to-equity ratio of 0.28x.

On the business development front, SPL made significant headway during the quarter, aided by a renewed push to expand its pipeline under its “Mission1234” growth strategy. The company added a new project with a gross development value (GDV) of around ₹200 crore in Q1 and is in advanced diligence and documentation stages for six additional projects with a combined development potential of approximately 3 million square feet. In total, SPL is evaluating multiple projects across its core markets, representing more than 23 million square feet of potential development.

CMD Murali M credited the results to strong execution, healthy project margins, and successful new market entries, particularly in Pune. He said the company will continue to accelerate launches and execution to sustain its growth momentum in the coming quarters.

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