On August 14, Bengaluru-based real estate developer Shriram Properties reported a modest 5% increase in net profit for the April-June quarter of the 2024-25 financial year, reaching Rs.17.5 crore. This compares to a net profit of Rs.16.6 crore in the same period last year, according to the regulatory filing.
Total income increased to Rs.210.90 crore in the April-June period of this fiscal year, up from Rs.157.17 crore in the same period last year, according to a regulatory filing.
Additionally, the company has appointed Ravindra Kumar Pandey as Chief Financial Officer and promoted Rajesh Yashwant Shirwatkar to Deputy Chief Financial Officer.
Murali M, CMD of Shriram Properties, commented on the performance: "Our robust market presence and the success of our strategic initiatives reassure us of continued growth and fulfillment of our commitments in the future. With a solid project pipeline, a strong execution platform, and a steadfast focus on cost management and quality, we are well-positioned for sustained profitable growth."
Shriram Properties Ltd is a prominent real estate developer in India, focusing primarily on Bangalore, Chennai, and Kolkata, which together represent nearly 85% of its development efforts.
To date, the company has completed 44 projects, offering a total saleable area of 24.4 million square feet, predominantly in Bengaluru and Chennai. As of June 30, 2024, it has a robust development pipeline with 42 projects, totaling an aggregate development potential of 42.1 million square feet.
Shriram Properties Ltd specializes in mid-market and affordable housing, with its primary markets being Bengaluru, Chennai, and Kolkata, which together account for about 85% of its activities.
As of June 30, 2024, the company has completed 44 projects totaling 24.4 million sq ft in saleable area and has a pipeline of 42 projects with a combined development potential of 42.1 million sq ft.
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