Real estate developer Shriram Properties reported a 151 per cent year-on-year increase in net profit to ₹21.6 crore for the second quarter of FY27, while revenue rose 18 per cent to ₹272.3 crore. Sales stood at ₹583 crore, up 20 per cent sequentially, and gross collections increased 11 per cent year-on-year to ₹431 crore.
The company handed over 760 units during the quarter, up 10 per cent sequentially, taking total handovers in the first half of FY27 to 1,450 units. During the quarter it acquired its partners' interests in five joint ventures, converting them into wholly owned subsidiaries, including Shriram 107 South East, Shriram WYT Field and Shriram 122 West. The move gives it greater control over project execution and decision-making and allows it to fully reflect the projects' scale in its consolidated financials.S1
The consolidation pushed net debt up to ₹761 crore, largely due to around ₹300 crore of debt from the acquired joint ventures, lifting the net debt-to-equity ratio to 0.5x. The company expects the ratio to return to historical levels over the next 12 to 18 months. A separate report in the sources gives a different picture of the quarter, stating that revenue from operations declined 10.6 per cent year-on-year to ₹183.6 crore in Q2 FY27 while profit rose multifold.S1S2
Shriram Properties is at an advanced stage of closing deals for several projects with an aggregate development potential of around 9 million square feet across Bengaluru, Chennai and Pune. The company aims to double the size of its upcoming project portfolio over the next 12 to 18 months, is exploring entry into newer markets, and plans to accelerate monetisation of its 105-acre land bank in Kolkata over the next three to five years.S1
Murali M, CMD of Shriram Properties, said the quarter was marked by a solid recovery and sustained earnings momentum, adding that a robust launch pipeline and accelerated second-half handovers give the company confidence in the growth ahead. He said the company will drive development-led monetisation in Kolkata, accelerate launches across its core markets and explore entry into newer markets.S1
