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Shriram Properties reported a 46% year-on-year decline in consolidated net profit to INR 11.04 crore for the quarter ended June 30, 2026, compared with INR 20.59 crore in the corresponding period a year earlier. The decline was primarily attributed to higher expenses, with operational costs and tax outgo increasing during the April-June quarter, while the company also recorded losses from joint venture projects. Total income increased marginally to INR 271.04 crore from INR 261.54 crore. Despite the decline in profit, sales bookings rose 10% to INR 484 crore during the quarter. The developer has a presence in Bengaluru, Chennai, Pune and Kolkata, with 52 delivered projects covering more than 32.9 million sq ft. As of June 30, its pipeline comprised 41 projects with an aggregate development potential of 33.7 million sq ft.
Shriram Properties reported a 46% year-on-year decline in consolidated net profit to INR 11.04 crore for the quarter ended June 30, 2026, as higher operational expenses, tax outgo and losses from joint venture projects weighed on its financial performance during the April-June quarter.
The Bengaluru-headquartered real estate developer had reported a consolidated net profit of INR 20.59 crore in the corresponding quarter of the previous fiscal. Despite the decline in profit, the company recorded a marginal increase in total income, which rose to INR 271.04 crore during the first quarter of FY27 from INR 261.54 crore in the year-ago period.
The increase in expenses was a key factor behind the decline in profitability. Shriram Properties reported higher operational expenses and tax outgo during the quarter. The company also incurred losses from its joint venture projects, adding to the pressure on its consolidated earnings.
On the operational front, the developer reported a 10% year-on-year increase in sales bookings to INR 484 crore during the first quarter of the current fiscal. The company attributed its performance during the quarter to customer response to new project launches in Chennai and Kolkata.
Murali M, chairman and managing director of Shriram Properties, said the company had started FY27 with strong operational performance and had received encouraging customer response to its new launches across Chennai and Kolkata. He added that the company intended to continue pursuing growth opportunities while maintaining disciplined capital allocation.
Shriram Properties operates across Bengaluru, Chennai, Pune and Kolkata. The company has delivered 52 projects with a combined area of more than 32.9 million sq ft across Bengaluru, Chennai and Kolkata.
As of June 30, 2026, the developer had a pipeline of 41 projects with an aggregate development potential of 33.7 million sq ft. This included 16 million sq ft of ongoing projects. The pipeline spans the company’s operating markets and provides its current development portfolio with a mix of ongoing and future projects.
The company said its balance sheet remained healthy and that its project portfolio was diversified across Bengaluru, Chennai, Kolkata and Pune. Murali said these factors would support the company as it pursued its identified growth opportunities and continued its capital allocation approach.
The quarterly results indicate a divergence between Shriram Properties’ financial and operational performance. While higher expenses and joint venture losses reduced consolidated profit, sales bookings increased during the period and total income recorded a marginal rise.
The developer enters the remainder of FY27 with 33.7 million sq ft of aggregate development potential across 41 projects, including 16 million sq ft under development. Its existing footprint includes 52 completed projects covering more than 32.9 million sq ft, primarily across Bengaluru, Chennai and Kolkata.
Source - PTI
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