Shriram Properties Q2 net profit rises 151%, revenue up 19%

Real estate developer Shriram Properties has reported a 151% on-year increase in net profit to Rs 21.6 crore for the quarter ended September, driven by higher project completions and revenue recognition.

Revenue for the quarter rose 19% to Rs 272.3 crore, while operating profit grew 235% to Rs 62.4 crore. Profit before tax stood at Rs 29.6 crore, compared with a loss of Rs 1.1 crore in the year-ago period. Operating margin improved to 23% during the quarter.

The Bengaluru-based developer recorded sales of Rs 583 crore, representing a 20% sequential increase, across 0.91 million sq ft during the quarter. Sales for the first half of financial year stood at Rs 1,067 crore across 1.76 million sq ft.


Gross collections increased 11% from a year ago to Rs 431 crore in the September quarter, taking first-half collections to Rs 795 crore, the highest-ever for the company during the first six months of a financial year.

“This was a strong quarter, marked by a solid recovery and sustained earnings momentum. A robust launch pipeline and accelerated H2 handovers give us confidence in the growth ahead. We will drive development-led monetization in Kolkata, accelerate launches across our core markets, and explore entry into newer markets to create lasting value for our stakeholders,” said Murali M, CMD of Shriram Properties.

The company handed over 760 units during the quarter and 1,450 units during the first half. It expects to hand over another 2,300 units during the second half.

Kolkata has emerged as an important market for the company’s development-led monetisation strategy. Its recently started branded plotted development, which has sold more than 70% of its inventory. The company said the response to its plotted development and villa offerings has strengthened its confidence in monetising its remaining 105-acre land bank in the city over the next three to five years.

During the quarter, Shriram Properties also acquired its partners’ stakes in five joint ventures, converting them into wholly owned subsidiaries. The move, according to the company, provides it greater control over project execution and decision-making, while bringing the projects’ scale fully into its consolidated financials.

The acquisition, however, increased consolidated net debt to Rs 761 crore, including around Rs 300 crore of debt taken over from the joint ventures. Net debt-to-equity stood at 0.5 times. The company expects the ratio to return to historical levels over the next 12 to 18 months. Cash and cash equivalents stood at Rs 357 crore at the end of September.

For the first half of Financial Year 2026-27, net profit increased 12% to Rs 32.6 crore, while revenue rose 11% to Rs 543.3 crore and operating profit grew 73% to Rs 104.3 crore.

The company is also pursuing business development opportunities with a combined development potential of around 9 million sq ft across Bengaluru, Chennai and Pune. It is at an advanced stage of discussions for several projects and aims to double its upcoming project portfolio over the next 12 to 18 months.