Mumbai: Shriram Properties Limited (SPL) reported a steady start to FY27, with quarterly sales rising 10% year-on-year to ₹484 crore in Q1FY27, while profit before tax increased marginally to ₹18 crore. The company said its full-year outlook remains unchanged, supported by project execution and a strong launch pipeline for the second half of the fiscal year.
New Launches Support Q1 Sales
SPL recorded its highest-ever first-quarter sales of ₹484 crore, equivalent to 0.85 msf, during the quarter ended June 30, 2026. The performance was supported by new project launches in Chennai and Kolkata.
In Kolkata, the company launched plots under the codename “Forest View”, positioned as the city’s first Branded Land offering. The launch received an encouraging response from customers.
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In Chennai, SPL entered the premium residential segment with the launch of its Koyambedu project, codenamed “King Life”. Both projects were launched in June 2026 and recorded healthy sales during their first 30 days.
The initial response to the two launches, the company said, reinforces its confidence in its product strategy. SPL expects its pre-sales momentum to strengthen further as multiple new projects are scheduled for launch in the coming quarters.
Gross customer collections increased 8% year-on-year to ₹365 crore during Q1FY27, supported by execution-linked milestones and handover-related collections. Collections are expected to gain further momentum as construction activity accelerates and recently launched projects scale up their sales.
SPL handed over more than 690 units to customers during the quarter, extending the execution momentum established through the record handovers achieved in Q4 FY26.
The company also made progress in expanding its development pipeline. During Q1FY27, SPL added a new project with an estimated gross development value (GDV) of approximately ₹650 crore. It is also at an advanced stage of closing additional projects representing more than 7 msf of development potential.
Revenue Rises 4% YoY
SPL’s total revenue stood at ₹271 crore in Q1FY27, compared with ₹261.5 crore in Q1FY26, representing a 4% year-on-year increase. The company attributed the moderate growth to continued revenue recognition from recently completed projects, following aggressive handovers in Q4 and a product mix weighted towards Kolkata projects.
Gross profit stood at ₹56 crore for the quarter, while EBITDA was ₹42 crore, compared with ₹41.6 crore in Q1FY26.
Profit before tax increased to ₹18.1 crore from ₹17 crore in the year-ago quarter. Net profit, however, stood at ₹11 crore compared with ₹20.6 crore in Q1FY26.
Finance costs were ₹21 crore during the quarter, supported by the cessation of non-cash charges related to the non-compete fee in Kolkata.
The company generated operating cash flows of ₹54 crore and deployed ₹88 crore towards investments in new projects during Q1FY27. Cash and cash equivalents stood at ₹219 crore.
Net debt was ₹432 crore, with the company maintaining a net debt-to-equity ratio of 0.3x. SPL also retained its CRISIL credit rating of A(-)/Positive.
Strong H2 Launch Pipeline Supports Outlook
SPL said it remains confident of maintaining its growth trajectory through FY27, supported by a strong pipeline of launches planned for H2FY27, continued project execution and improving visibility on scheduled handovers.
The response to the recent launches in Chennai and Kolkata is expected to support pre-sales momentum through the remainder of the financial year. With a significant portion of its ongoing portfolio already sold and several projects progressing towards completion, the company is focusing on accelerating construction and completing handovers on schedule to support revenue recognition in the second half.
Alongside execution, SPL plans to continue adding projects across its key markets. The company expects these additions to strengthen its development pipeline and provide a foundation for growth beyond FY27.
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Commenting on the performance, Mr. Murali M, Chairman and Managing Director of SPL, said, “We have commenced FY27 on a strong note, with robust operational performance and encouraging customer response to our new launches across Chennai and Kolkata. With a healthy balance sheet, disciplined capital allocation and a diversified project portfolio across Bengaluru, Chennai, Kolkata and Pune, SPL remains well positioned to pursue its growth opportunities while continuing to create sustainable long-term value for all stakeholders.”
