Shriram Properties Reports Record Q1 Performance with 17% Sales Growth
Shriram Properties Limited (SPL) achieved its strongest first quarter to date. Sales volume increased by 17% year-on-year to 0.82 million square feet, with sales value reaching INR 441.00 crore. Collections hit a record high of INR 388.00 crore. The company successfully launched its maiden project in Pune and handed over 740 homes and plots. Total revenue grew by 24% to INR 262.00 crore, with net profit up 18% at INR 20.60 crore. SPL maintains a healthy financial position with a net debt-to-equity ratio of 0.28.
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Shriram Properties Limited (SPL) has kicked off the fiscal year with a stellar performance, reporting its strongest first quarter to date. The real estate developer showcased robust growth across key metrics, setting a positive tone for the year ahead.
Record-Breaking Sales and Collections
SPL achieved its highest ever Q1 sales volume of 0.82 million square feet, marking a 17% year-on-year increase. The sales value stood at INR 441.00 crore, also up by 17% compared to the same period last year. This growth was driven by healthy demand across the company's key markets, particularly in the mid-market and mid-premium housing segments.
Collections reached a record high of INR 388.00 crore for a first quarter, representing a 5% year-on-year increase. This strong collection performance is expected to gain further momentum in the coming quarters.
Successful Project Launches and Handovers
The company made a significant entry into the Pune market with its maiden project, Codename Superstar, which received an exceptional response. Within the first four weeks of launch, the project sold over 150 units, demonstrating strong brand acceptance in the new geography.
Construction progress remained robust across key markets of Bangalore, Chennai, and Pune. SPL handed over more than 740 homes and plots during the quarter, its best-ever first-quarter performance in terms of deliveries.
Financial Highlights
| Metric | Value (INR Crore) | Year-on-Year Growth |
|---|---|---|
| Total Revenue | 262.00 | 24% |
| Gross Profit | 82.00 | 70% |
| EBITDA | 46.50 | - |
| Net Profit | 20.60 | 18% |
The company maintained a healthy gross margin of 34%.
Strategic Expansion and Future Outlook
Shriram Properties added one new project in Bangalore with a Gross Development Value (GDV) of INR 200.00 crore during Q1. The company is actively expanding its project pipeline, with six projects totaling approximately 3 million square feet nearing closure.
Management maintained its guidance for 3,300-3,600 unit handovers and expects revenue of INR 1,250.00-1,300.00 crore for the fiscal year.
Financial Position
As of the end of Q1, Shriram Properties' gross debt stood at INR 567.00 crore, with a net debt-to-equity ratio of 0.28, which is among the lowest in the sector.
Murali M, Chairman and Managing Director of Shriram Properties, commented on the results: "We are pleased to report that Shriram Properties has started the year on a very strong note, delivering record operational performance and robust financial results while maintaining a healthy growth trajectory for the remainder of the year."
With a strong start to the fiscal year and a positive outlook for the real estate sector, Shriram Properties appears well-positioned to capitalize on the growing demand in its core markets and deliver sustained growth for its stakeholders.
Historical Stock Returns for Shriram Properties
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.09% | +0.16% | -10.34% | +23.59% | -28.91% | -9.58% |
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