Shriram Properties, a leading Delhi-based realty firm saw a jump of 5% in its net profit reaching INR 17.46 crore in June quarter, the company reported. The company's total income recorded INR 210.90 crore this fiscal year against previous fiscal year that stood at INR 53.73 crore. The top official of the company said the strong presence in the market and strategies helped to growth and deliver its commitments for upcoming years. In its official statement, the company said it has concluded 2 new projects in Bengaluru.
Shriram Properties saw an increase of 5% in its consolidated net profit and touched INR 17.46 crore in the June quarter, the company reported last week. According to the regulatory filing, the company's total income reached INR 210.90 crore in the April-June period of this fiscal year, an increase of INR 53.73 crore from previous corresponding year while the net profit in last June quarter was at INR 16.62 crore.
A media report noted that the company's sales volume stood at 0.70 million square feet and sales values of INR 376 crore in the first quarter of this fiscal year. The realty firm's Chairman and Managing Director said the company's strong presence in the market and success of strategic initiatives assisted in maintaining the growth and delivering its commitment for upcoming years. He added that the strong project pipeline, a strong execution platform and focus on cost and quality contributed to profitable growth even in the future.
Recently, the company assigned the Chief Financial Officer role to Ravindra Kumar Pandey and promoted Rajesh Yaswant Shirwatkar as Deputy Chief Financial Officer. Shriram Properties is one of the leading realty firm with solid roots in Bangalore, Chennai and Kolkata, which together makes upto 85% of its development activities. The company has completed 44 projects with a saleable area of 24.4 million feet with majority of them in Bangalore and Chennai.
The company in its official statement said the company closed two news projects in Bengaluru. It acquired development rights in land plot near Yelahanka in North Bangalore and another near Electronic City, with development potential of approximately 0.8 million square feet that is anticipated to reach development value of around INR 500 - 600 crore.nAs of June 2024, The company has upcoming 42 projects with an approximate development potential of 42.1 million square feet.
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