Realty agency Shriram Properties reported a 32% rise in consolidated web profit to ₹20.18 crore for the March quarter on greater revenue. Its web profit was ₹15.25 crore in the year-earlier interval.
Total revenue rose to ₹358.37 crore in the fourth quarter of the final fiscal from ₹170.98 crore in the March quarter of FY23, in accordance to a regulatory submitting on Wednesday.
During the 2023-24 fiscal yr, the online profit rose to ₹75.43 crore from ₹65.97 crore in the previous yr.
Total revenue grew to ₹987.35 crore in the final fiscal from ₹813.93 crore in the 2022-23 monetary yr.
Murali M., CMD of Bengaluru-based Shriram Properties, stated, “Supported by our strong market presence and success of strategic initiatives, we are confident of sustaining growth and profitability in the coming years.” “Our robust launch pipeline, strong execution platform coupled with continued focus on cost management and commitment to delivering quality will support towards this end,” he added.
Shriram Properties is certainly one of south India’s main actual property growth firms, primarily targeted on the mid-market and inexpensive housing classes.
Its key markets embrace Bengaluru, Chennai, and Kolkata. The firm has delivered 44 tasks with a saleable space of 24.4 million sq ft, largely in Bengaluru and Chennai.
Shriram Properties has a robust growth pipeline comprising 42 tasks with an mixture growth potential of 42.1 million sq ft as of March 31, 2024.
The firm, a part of the Shriram Group, made its preliminary public providing and have become a publicly traded firm in December 2021.
