Shriram Properties Limited (SHRIRAMPPS)
₹67.74 +0.15% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Shriram Properties' revenue was ₹224 Cr (-7.4% year on year, -65.0% on the previous quarter), and net profit ₹11.0 Cr (-46.4% year on year); the operating margin was -2.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹224 | -7.4% | -65.0% |
| Operating profit | ₹-4.9 | to loss | to loss |
| Net profit | ₹11.0 | -46.4% | -86.0% |
| EPS (₹) | 0.65 | -46.3% | -85.9% |
| Operating margin | -2.2% | — | — |
SHRIRAMPPS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 55.04% of the SHRIRAMPPS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 52.62%. That is close to its usual level. Turnover was only ₹83 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 38.6% · 42.7% · 39.0% · 30.5% · 55.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Shriram Properties has signed definitive agreements to acquire partner equity stakes across four ongoing joint ventures for a total cash consideration of ₹3,700 lakh (₹37.0 Cr). The company is acquiring a 49% stake each in Shrivision Towers (₹22 Cr), SPL Towers (₹0.50 lakh), and Shriprop Living Space (₹14.99 Cr), alongside a 50% stake in Shriprop Hitech City (₹0.10 lakh). Two of the targets generated substantial FY26 revenues, with SPL Towers at ₹356.40 Cr and Shriprop Living Space at ₹259.80 Cr. The acquisitions are strategic, completed on September 30, 2026, and represent ~3.1% of Shriram Properties' market capitalization.
- Total cash consideration of ₹37.0 Cr across 4 JV entities
- Acquired 49% stake in Shrivision Towers for ₹2,200 Lakhs (FY26 turnover: ₹1,621.30 Lakh)
- Acquired 49% stake in SPL Towers for ₹0.50 Lakhs (FY26 turnover: ₹35,639.63 Lakh)
- Acquired 49% stake in Shriprop Living Space for ₹1,499.40 Lakhs (FY26 turnover: ₹25,980.11 Lakh)
- Acquired 50% stake in Shriprop Hitech City for ₹0.10 Lakhs (FY26 turnover: Nil)
Shriram Properties Limited has declared the voting results and Scrutinizer's Report for its 5th Annual General Meeting post-IPO held on September 26, 2026. All five ordinary resolutions were passed by shareholders with over 99.9% favorable votes. Key approvals included the adoption of FY26 financial statements, reappointment of director Mr. Ashish Pradeep Deora, appointment of M/s. Abarna & Ananthan as statutory auditors, and remuneration approvals for cost auditors and non-executive directors. A total of 88,362,762 votes were polled, representing 51.78% of the total 170,654,392 outstanding voting shares.
- All 5 ordinary resolutions approved with over 99.9% votes cast in favor
- Total votes polled stood at 88,362,762, representing 51.78% of the total 170,654,392 shares
- M/s. Abarna & Ananthan, Chartered Accountants, approved as statutory auditors with 99.99% voting approval
- Cut-off date for voting was September 21, 2026, across 86,261 total recorded shareholders
- 74 shareholders attended the AGM held through Video Conference/OAVM
Shriram Properties Limited has informed the exchanges regarding a scheduled institutional investor interaction. Company officials will participate in a virtual group meeting hosted by Arihant Capital at the 'Bharat Connect Conference: Rising Stars September 2026'. The meeting is slated for September 29, 2026, from 12:00 PM to 1:00 PM. The company stated that only publicly available information will be discussed with no unpublished price sensitive information (UPSI) shared.
- Virtual group investor meeting scheduled for Tuesday, September 29, 2026, from 12:00 Noon to 01:00 P.M.
- Interaction hosted under the Arihant Capital: Bharat Connect Conference: Rising Stars September 2026
- Company confirmed discussions will rely solely on publicly available information without sharing UPSI
Shriram Properties submitted a machine-readable, legible copy of its unaudited financial results for the quarter ended June 30, 2026, in response to an exchange query dated September 3, 2026. Consolidated net profit for Q1 FY27 was reported at Rs 11.04 Cr (EPS of Rs 0.65), compared to Rs 20.59 Cr (EPS of Rs 1.21) in the corresponding quarter of the previous year. Standalone revenue from operations was Rs 41.50 Cr (Rs 4,150 lakhs), with standalone profit at Rs 12.82 Cr (Rs 1,282 lakhs). The statutory auditors issued an unmodified review report with an Emphasis of Matter regarding a past October 2024 Enforcement Directorate search.
- Machine-readable filing of Q1 results approved originally on August 12, 2026
- Consolidated net profit for Q1 ended June 30, 2026 stood at Rs 1,104 lakhs (Rs 11.04 Cr)
- Consolidated Basic EPS stood at Rs 0.65 for the quarter vs Rs 1.21 in Q1 FY26
- Auditors issued an unmodified limited review report with an Emphasis of Matter on an ED search from October 2024
Shriram Properties Limited has issued a communication pursuant to Regulation 36(1)(b) of SEBI LODR to shareholders whose email IDs are not registered, providing web access details for the FY26 Annual Report. The company confirmed that its 5th Annual General Meeting post-IPO is scheduled for Saturday, September 26, 2026, at 12:00 Noon IST via Video Conferencing. The cut-off date used for sending this intimation was August 28, 2026.
- 5th Annual General Meeting post-IPO scheduled for Saturday, September 26, 2026, at 12:00 Noon IST via VC/OAVM
- Intimation letter dispatched to unregistered email holders based on the cut-off date of August 28, 2026
- Direct web-link provided for shareholders to access the complete Annual Report for FY26
Shriram Properties Limited has issued the notice for its 5th Annual General Meeting (post-IPO) to be held on September 26, 2026, via video conferencing. The cut-off date to determine e-voting eligibility has been set for September 21, 2026. Key agenda items include the adoption of FY26 financial statements, the appointment of M/s. Abarna & Ananthan as Statutory Auditors for a 5-year term up to FY32, and approval of remuneration/honorarium of ₹20 lakhs each for five Non-Executive Directors.
- 5th AGM (post-IPO) scheduled for September 26, 2026 at 12:00 Noon via VC/OAVM.
- Record/cut-off date for e-voting eligibility set as September 21, 2026.
- Proposed appointment of M/s. Abarna & Ananthan as Statutory Auditors for a 5-year term until the 10th AGM in FY32.
- Approval sought for remuneration and honorarium totaling ₹20 lakhs each (₹15 lakhs base + ₹5 lakhs honorarium) for 5 Non-Executive Directors.
Shriram Properties reported its Q1 FY27 earnings call transcript, recording its highest-ever first-quarter sales value of ₹484 crore (up 10% YoY) and sales volume of 0.85 million square feet (up 4% YoY). Collections grew 8% YoY to ₹365 crore with 690 units handed over during the quarter. Financial performance showed revenue of ₹271 crore (up 4% YoY), EBITDA of ₹42 crore, and PAT of ₹11 crore. Management noted that revenue and margin recognition remain back-ended towards H2 FY27 as major project completions and Occupancy Certificates (OC) are scheduled in later quarters.
- Q1 FY27 sales value reached a record Q1 high of ₹484 crore (+10% YoY) on volume of 0.85 million sq ft (+4% YoY).
- Quarterly collections rose 8% YoY to ₹365 crore; revenue stood at ₹271 crore with PAT of ₹11 crore and EBITDA of ₹42 crore.
- Launched 0.9 million sq ft across 3 projects, including Shriram Stellar in Chennai (20% sold over launch weekend) and Shriram Southbrook plots in Kolkata (55% sold within 30 days).
- Total project pipeline stood at 33.7 million sq ft with an estimated GDV potential of ₹13,530 crore, alongside an advanced pipeline of 7.3 million sq ft (GDV >₹6,000 crore).
Shriram Properties Limited has scheduled a group meeting with institutional investors and analysts for August 18, 2026, in Mumbai. The meeting is intended for discussing publicly available information, with no unpublished price-sensitive information (UPSI) to be shared. This is a standard investor relations activity for the company, which currently has a market capitalization of ₹1,351 Cr and TTM revenue of ₹1,268 Cr. Investors should view this as a routine transparency measure.
- Group meeting with investors and analysts scheduled for August 18, 2026, at 02:00 P.M.
- The meeting will take place in Mumbai and focus on publicly available information.
- Company reported TTM revenue of ₹1,268 Cr and TTM PAT of ₹101 Cr.
- Management is targeting a sales volume expansion to ~5 msf in FY26, up from 4.3 msf in FY25.
Shriram Properties has made the audio recording of its Q1 FY27 analyst call available to the public following the meeting held on August 13, 2026. The call discussed the company's financial performance for the quarter ended June 30, 2026. This follows a fiscal year (FY26) where the company reported a TTM revenue of •1,268 Cr and a PAT of •101 Cr. Investors typically use these calls to track management's progress on clearing the •420-450 Cr regulatory backlog and the expansion into the Pune market.
- Audio recording of the investor conference call held on August 13, 2026, is now publicly accessible.
- The call focused on the unaudited financial results for the quarter ended June 30, 2026 (Q1 FY27).
- Company is working against a previously identified regulatory backlog of •420-450 Cr in deferred revenue.
- Management is targeting a sales volume expansion to ~5 million square feet (msf) for FY26.
Shriram Properties has disclosed the audio recording link for its investor conference call held on August 13, 2026. The call focused on the company's financial performance for the quarter ended June 30, 2026 (Q1 FY27). This follows a fiscal year (FY26) where the company achieved a net profit of ₹101.16 crore on revenue of ₹1,267.63 crore. Investors can use this recording to gauge management's progress on clearing the ₹420-450 crore regulatory backlog and the expansion into the Pune market.
- Audio recording of the Q1 FY27 earnings call held on August 13, 2026, is now publicly available.
- The call discussed unaudited financial results for the quarter ended June 30, 2026.
- Company reported TTM revenue of ₹1,268 crore with an operating profit margin of 5.5%.
- Management previously identified a regulatory backlog of ₹420-450 crore in deferred revenue due to OC delays in Bengaluru.
Shriram Properties reported a 10% YoY increase in sales value to Rs 484 Cr for Q1 FY27, driven by 0.85 msf in sales volume. While quarterly PAT stood at Rs 11 Cr, the company highlighted that performance is typically skewed towards the second half of the year, with a robust handover pipeline of 2,900+ units targeted for FY27. The company added one new project with a Gross Development Value (GDV) potential of Rs 650 Cr, which is significant relative to its Rs 1,426 Cr market cap. Collections grew 8% YoY to Rs 365 Cr, maintaining a healthy debt-to-equity ratio of 0.3x.
- Achieved highest-ever Q1 sales value of Rs 484 Cr, up 10% YoY from Q1 FY26.
- Added one new project in Q1 with an estimated GDV potential of Rs 650 Cr.
- Maintained a strong pipeline of 33.7 msf with an estimated revenue potential of Rs 14,000 Cr over 5-7 years.
- Targeting FY28 Mission of Rs 5,000+ Cr sales value and Rs 2,500+ Cr revenue.
- Customer collections grew 8% YoY to Rs 365 Cr, supporting construction progress.
Shriram Properties reported a 10% YoY growth in sales value to ₹484 crore for Q1 FY27, achieving its highest-ever first-quarter sales volume of 0.85 msf. While total revenue grew 4% YoY to ₹271.1 crore, net profit declined to ₹11 crore from ₹20.6 crore in the year-ago period, despite a 6.5% increase in Pre-Tax Profit (PBT) to ₹18.1 crore. The company added a new project with a Gross Development Value (GDV) of ₹650 crore, which is approximately 46% of its current market capitalization. Operational health remains stable with collections up 8% YoY to ₹365 crore and a low net debt-to-equity ratio of 0.3x.
- Record Q1 sales value of ₹484 crore, representing a 10% growth over Q1 FY26.
- New project added in Q1 with an estimated GDV of ₹650 crore, plus a 7+ msf pipeline in advanced stages.
- Handed over 690+ units during the quarter, continuing execution momentum from FY26.
- Net debt stood at ₹432 crore, nearly identical to the FY26 year-end debt of ₹433 crore.
- Operating cash flows of ₹54 crore generated during the quarter, with ₹88 crore deployed into new investments.
Shriram Properties Limited has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The board meeting, held on August 12, 2026, concluded within 50 minutes. The company also announced its 5th Annual General Meeting (AGM) post-IPO, to be conducted via video conferencing. While specific quarterly figures were not summarized in the cover letter, the filing confirms the completion of the statutory limited review for the period.
- Board meeting conducted on August 12, 2026, between 06:30 P.M. and 07:20 P.M.
- Approval of unaudited financial results for the quarter ended June 30, 2026.
- Announcement of the 5th Annual General Meeting (AGM) post-IPO to be held via VC/OAVM.
- Company maintains a TTM revenue of ₹1,268 Cr and a market capitalization of ₹1,426 Cr.
- Debt-to-Equity ratio remains relatively low at 0.27 as per latest available context.
Shriram Properties has scheduled its Q1 FY27 earnings conference call for August 13, 2026, at 11:00 AM IST. The management will discuss operational and financial performance for the quarter ended June 30, 2026. This follows a strong FY26 where the company reported a TTM revenue of ₹1,268 Cr and a PAT of ₹101 Cr. Investors will likely look for updates on the ₹420-450 Cr regulatory backlog in Bengaluru and the progress of the Pune market expansion.
- Earnings call scheduled for August 13, 2026, to discuss Q1 FY27 results.
- Management participation includes the Chairman & MD, Executive Director & CEO, and the CFO.
- Company reported a significant revenue of ₹641 Cr in the most recent March 2026 quarter.
- Investors are tracking the clearance of ₹420-450 Cr in deferred revenue due to regulatory transitions.
- The company is targeting a sales volume expansion to ~5 million square feet (msf) for FY26.
Shriram Properties Limited has appointed M/s. Abarna & Ananthan as its new Statutory Auditors for a five-year term, starting from the conclusion of the 5th AGM post-IPO until the 10th AGM. This appointment follows the mandatory rotation of the outgoing auditor, M/s Walker Chandiok & Co LLP, who completed two consecutive terms as per the Companies Act, 2013. The new firm, established in 1987, has 14 partners and specialized experience in the real estate sector. The transition is a standard regulatory requirement and is subject to shareholder approval at the upcoming AGM.
- Appointment of M/s. Abarna & Ananthan for a fixed term of 5 consecutive years
- Replacement of M/s Walker Chandiok & Co LLP after completion of 2 mandatory terms
- New audit firm features 14 partners and presence in 3 major cities: Bengaluru, Chennai, and Mumbai
- The firm is empanelled with both the CAG and the RBI, with expertise in GST and real estate assurance
- Appointment is effective from the conclusion of the 5th Annual General Meeting post-IPO
Financial Performance
Revenue Growth by Segment
H1 FY26 Total Revenue reached INR 490.5 Cr, growing 34% YoY. Operating Revenue grew 33% YoY to INR 475.2 Cr. Revenue from sale of properties in FY25 was INR 808.90 Cr, while Development Management (DM) fees and administrative income contributed INR 9.12 Cr.
Geographic Revenue Split
90% of property sale revenue is concentrated in three key regions: Bengaluru (Shriram Liberty Square, Pristine Estates, Chirping Woods), Chennai (Park 63, Shankari), and Kolkata (Grand One).
Profitability Margins
Gross margins remained healthy at 30% in FY25 and improved to 32% in H1 FY26. PAT margin for FY25 stood at 8% on a consolidated basis.
EBITDA Margin
EBITDA margin (including share of JV income) was 21% in FY25, amounting to INR 202.83 Cr. H1 FY26 EBITDA with share of JV profit was INR 69.8 Cr, showing a slight 1% YoY decline due to deferred revenue recognition.
Capital Expenditure
Cost of revenues, representing construction outlays and direct project expenses, amounted to INR 574.94 Cr in FY25. The company is investing INR 5 Cr in brand and launch expenses for its entry into the Pune market.
Credit Rating & Borrowing
CRISIL reaffirmed its 'CRISIL A-/Positive' rating. Finance costs declined 11% YoY to INR 104.58 Cr in FY25, driven by lower interest expenses on term loans and NCDs.
Operational Drivers
Raw Materials
Construction costs (including steel, cement, and labor) represent the primary cost of revenue, which totaled INR 574.94 Cr in FY25, approximately 59% of total revenue.
Capacity Expansion
Sales volume reached 4.3 million square feet (msf) in FY25 and is targeted to expand to ~5 msf in FY26, representing a 16% volume growth target.
Raw Material Costs
Cost of revenues stood at INR 574.94 Cr (59% of revenue) in FY25. Procurement strategies focus on direct construction outlays linked to project handovers and occupancy certificates.
Manufacturing Efficiency
Handed over 764 units in Q2 FY26, a 30% increase YoY. Nearly 56% of these handovers were in JV projects, strengthening execution momentum.
Logistics & Distribution
Other operating expenses, including distribution and marketing, totaled INR 126.65 Cr in FY25.
Strategic Growth
Expected Growth Rate
23%
Growth Strategy
The company plans to achieve its INR 1,000 Cr+ revenue target by clearing the regulatory backlog of INR 420-450 Cr in deferred revenue, launching 5 new projects with 2.3 msf potential, and expanding into the Pune market.
Products & Services
Residential apartments, plotted developments (e.g., Shriram Pristine Estates), and Development Management (DM) services for third-party landowners.
Brand Portfolio
Shriram Properties, Shriram Grand One, Shriram Chirping Woods, Shriram Liberty Square, Shriram Pristine Estates, Shriram Park 63, Shriram Shankari, Shriram Esquire.
New Products/Services
Added 5 new projects in FY26 with a Gross Development Value (GDV) potential of 2.3 msf. New launches include Shriram Esquire and Shriram 107 South East.
Market Expansion
Entry into the Pune market with an initial brand campaign and launch expense of approximately INR 5 Cr in Q2 FY26.
Market Share & Ranking
The company's RoCE of 9% places it in the first quartile of returns within its peer group.
Strategic Alliances
Joint Ventures with ASK (exit from Pristine Estates) and a one-time settlement of INR 6 Cr for the closure of a JDA in Kolkata with Ashiana.
External Factors
Industry Trends
The industry is shifting toward organized players with strong execution records. Shriram is positioning itself as a partner of choice for landowners through asset-light JV and DM models to improve financial flexibility.
Competitive Landscape
Competes with regional and national developers in the affordable and middle-income segments in Bengaluru, Chennai, and Kolkata.
Competitive Moat
Sustainable moat derived from an established brand name and a strong execution record in South India, supported by a 9% RoCE which is in the top quartile of peers.
Macro Economic Sensitivity
Highly sensitive to regulatory changes in the Bengaluru region (GBA transition) and state elections (Maharashtra), which can delay project approvals and launches.
Consumer Behavior
Steady demand for affordable and middle-income housing projects ensures healthy collections, which reached INR 1,484 Cr in FY25.
Geopolitical Risks
Primarily domestic risks related to regional regulatory transitions and state-level policy changes.
Regulatory & Governance
Industry Regulations
Impacted by the GBA (Greater Bangalore Area) transition and the new eKhata digital system in Bengaluru, which caused transient delays in revenue recognition.
Taxation Policy Impact
Consolidated tax expense for FY25 was INR 10.6 Cr.
Legal Contingencies
Pending contingent liability (provision) of INR 259 Cr related to Kolkata projects, with INR 1.7 Cr provided in Q2 FY26. One-time settlement of INR 6 Cr for Kolkata land closure.
Risk Analysis
Key Uncertainties
Exposure to refinancing risk and the inherent cyclicality of the real estate sector, which can cause muted operating performance during market headwinds.
Geographic Concentration Risk
High concentration with 90% of revenue coming from projects in just three cities: Bengaluru, Chennai, and Kolkata.
Third Party Dependencies
High dependency on government regulatory bodies for the timely issuance of Occupancy Certificates (OC) and Khata processing.
Technology Obsolescence Risk
Digital transition risks associated with the implementation of the new eKhata system in Bengaluru.
Credit & Counterparty Risk
Receivables are generally tied to unit handovers; collections in FY25 were robust at INR 1,484 Cr.
