Page 2 - Shriram Properties

Shriram Properties Q3 result: PAT dips 17% to Rs 18 cr, income at Rs 240 cr

Shriram Properties Ltd on Wednesday reported a 17 per cent decline in profit after tax at Rs 18.48 crore in the quarter ended December 2023 and announced its entry into the Pune market with a real estate project worth Rs 1,300 crore. The company's net profit stood at Rs 22.36 crore in the year-ago period. The total income rose to Rs 240.57 crore in the third quarter of this fiscal, from Rs 222.01 crore in the corresponding period of the previous year, according to a regulatory filing. Shriram Properties said it is planning an entry into the Pune region, and has signed a Development Management (DM) agreement for the development of a residential project in Undri, Pune. The company has secured development rights under the DM model, and the project envisages the development of over 1.7 million square feet of residential area and 0.3 million square feet of commercial area. The project has sales value potential of over Rs 1,300 crore and is to be executed over the next 3-4 years, Shrira

Shriram Properties Q2 sales bookings up 40% to Rs 608 cr on strong demand

Realty firm Shriram Properties Ltd has clocked 40 per cent growth in its sales bookings to Rs 608 crore in the second quarter of this fiscal year on better demand for its housing projects. Its sales bookings stood at Rs 435 crore in the year-ago period. According to an investors' presentation, Shriram Properties sales bookings grew 14 per cent to 1.15 million sq ft during the July-September period of this fiscal from Rs 1.01 million sq ft in the corresponding period of the previous year. Shriram Properties attributed the growth in bookings value to strong sustenance sales in ongoing projects and contribution from new phases launched during the July-September quarter. Higher sales values reflect the change in product mix and improved pricing, it said. In the first six months of the ongoing fiscal, Shriram Properties Ltd achieved sales volumes of 1.9 million sq ft -- up 14 per cent year-on-year (y-o-y) -- and sales values of Rs 1,066 crore -- up 43 per cent y-o-y. "We are encourage

Shriram Properties, ASK Property Fund to jointly invest in Chennai project

Realty firm Shriram Properties Ltd (SPL) and ASK Property Fund on Wednesday announced a joint investment of Rs 206 crore in a residential project in Chennai. The joint investment is "towards 100 per cent of development rights in an ongoing project in Chennai, through SPL's wholly owned subsidiary Shrivision Elevations Pvt Ltd." The project acquisition formalities were completed and is being launched as "Shriram 122 West" shortly. With a total saleable area of 1.9 million square feet spread across two phases, the project has an aggregate revenue potential of Rs 1,200 crore in the next 5 years. The project comprises of around 1,900 residential units, predominantly targeting the mid-income group.

Shriram Properties, ASK Property Fund invest Rs 206 cr in a Chennai project

The project, Shriram 122 West is the second joint investment by the co-investment platform set up by ASK & Shriram in November 2022

Shriram Properties Q1 profit rises 59% to Rs 16.62 cr on better income

Realty firm Shriram Properties on Monday reported a 59 per cent increase in its consolidated net profit to Rs 16.62 crore for the first quarter of this fiscal. Its net profit stood at Rs 10.47 crore in the year-ago period. The total income rose to Rs 157.17 crore during the April-June period of 2023-24 from Rs 145.11 crore in the year-ago period, according to a regulatory filing. Its sales volumes increased 17 per cent year-on-year to 0.78 million square feet during the first quarter of this fiscal. Sales bookings in value terms rose 47 per cent annually to Rs 459 crore, driven by strong sustenance sales in ongoing projects and two successful launches during April-June. M Murali, CMD, Shriram Properties said: We are encouraged by the continuing strong operating and financial performance...Looking ahead, with our launches, we remain positive in our commitment to, delivering homes and contributing meaningfully to the growth of the company". The company's gross debt was 12 per cent .

Shriram Properties to invest Rs 750 cr on construction of housing projects

Shriram Properties will invest around Rs 750 crore this fiscal on construction of its ongoing and new residential projects as it looks to scale up business amid strong housing demand, its CMD M Murali said. Bengaluru-based Shriram Properties had spent Rs 500 crore in the last financial year on construction works. In an interview with PTI, Shriram Properties Chairman and Managing Director M Murali highlighted that the company achieved a 25 per cent growth in sales bookings to touch an all-time high of Rs 1,846 crore last fiscal, on higher volumes and better price realisation. Asked about the target of sales bookings for this fiscal, Murali said, "We are looking at about 20 per cent growth in volume terms and 25 per cent growth in value." Sales volumes stood at 4.02 million square feet in the last fiscal, which is a new record, as against 3.8 million square feet in 2021-22. The average annual sales realisation grew 8 per cent annually during the last financial year. Shriram Propert

Shriram Properties eyes 25% growth in housing sales in FY'24, says CMD

Realty firm Shriram Properties is targeting a 25 per cent growth in sales bookings this fiscal from a record Rs 1,846 crore in the previous year on strong housing demand, its CMD M Murali said. In an interview with PTI, the company's Chairman and Managing Director M Murali said the housing demand has been robust across all price categories, helping the company to post record sales bookings in the 2022-23 fiscal. Shriram Properties achieved an all-time high sales bookings of Rs 1,846 crore last fiscal, up 25 per cent from Rs 1,482.4 crore in the previous year, driven by higher volumes, better realisation and change in product mix. Asked about the target of sales bookings for this fiscal, Murali said, "We are looking at about 20 per cent growth in volume terms and 25 per cent growth in value." Sales volumes of 4.02 million square feet in the last fiscal, which is a new record, as against 3.8 million in 2021-22. The average annual sales realisation grew 8 per cent annually during the

Shriram Financial Ventures to be holding company in Shriram Group recast

SCL, the existing holding company of the Group, and Shriram City Union Finance will merge shortly with Shriram Transport Finance

Shriram Properties Apr-Sep sales bookings climb 27% to Rs 747 crore

Shriram Properties on Thursday reported a 27 per cent increase in sales bookings to Rs 747 crore during the first six months of this fiscal year. In a statement, Shriram Properties said the company has achieved a 52 per cent rise in sales volume at 1.01 million square feet in the second quarter of FY23 as compared to 0.66 million square feet in the first quarter of the same fiscal. Aggregate sales value stood at Rs 435 crores in second quarter, reflecting a growth of 39 per cent against Rs 313 crores in the first quarter of FY23. During the first six months of FY23, the company reported sales volume of 1.67 million square feet over 1.56 million square feet in H1 of FY22. Aggregate sales value grew more strongly by 27 per cent year-on-year to Rs 747 crore in H1 of FY23. "We are encouraged by the strong performance on key operating parameters and expect to see further momentum in the seasonally strong periods of H2FY23. We are on track to deliver full year targets in terms of sales

Shriram Properties, ASK Property Fund to set up Rs 500-cr housing platform

Realty firm Shriram Properties Ltd and ASK Property Fund have agreed to set up a Rs 500 crore investment platform to acquire housing projects. Both companies have signed a Memorandum of Understanding (MoU) for setting up the investment platform for acquisition of residential real estate projects. Under the platform arrangement, Shriram and ASK will co-invest in plotted and residential developments projects in Bengaluru, Chennai, and Hyderabad. "Aggregate commitments towards the platform will be up to Rs 500 crores and the committed capital is expected to be deployed over the next 12 months," Shriram Properties said in a statement. ASK will invest through its managed Category II AIF (Alternative Investment Fund). Shriram and ASK have already committed their first investment under the new platform for a plotted development project in North Bangalore. "The platform will invest up to Rs. 125 crores towards acquisition and development of this project that already has necessary approv

Logos to buy Shriram Properties 90 acre land in Kolkata for logistics park

Realty firm Shriram Properties Ltd on Monday said it plans to sell up to 90 acres of land in Kolkata to Logos for development of logistics and warehousing park.

Stocks to Watch: RateGain, Airtel, CIL, RBL Bank, Dilip Buildcon, Jet Air

Stocks of a dozen firms that debuted recently may come under pressure as the mandatory one-month lock-in period for anchor investors ends

Shriram Properties makes a weak debut, shares list at 15% discount

The stock gained a bit after listing and ended the session at Rs 99.4 - a 15.7 per cent discount to its issue price

Shriram Properties shares tumble more than 16% in debut trade

Shriram Properties' initial share sale got subscribed 4.60 times on the final day of the offering earlier this month

Sensex sheds 1,190pts, Nifty ends near 16,600; financials, Tata Steel tank

The NSE index has now declined nearly 11 per cent from its all-time in the last two months; Midcap and Smallcap indices were down over 3 per cent each

Shriram Properties makes a weak debut, lists 24% below issue price

Shares of Shriram Properties were listed at Rs 90, a 24 per cent discount to its issue price of Rs 118 per share on the National Stock Exchange

Stocks to Watch: Airtel, ICICI, Hindalco, Shriram Properties, ONGC, Cipla

Consumer Durable stocks are also likely to be in focus on Monday after the company have hiked prices for the third time this year

Shriram Properties IPO closes with 4.6x subscription on retail push

The company had priced its IPO at Rs 113-118 a share. Offer consisted of a fresh issue of Rs 250 crore and an OFS of Rs 350 crore

Shriram Properties IPO subscribed 1.7x on Day-2 on retail interest

MapmyIndia IPO subscribed 2x on opening day

RateGain subscribed 75% on Day-2, bulk of bids from retail investors

Shriram properties get 89% subscription on opening day