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Earnings Call Transcript

Shriram Properties Earnings Call Transcript: Key Takeaways

Shriram Properties delivered record Q1 sales, but earnings are currently suppressed by legacy low-margin Kolkata projects. Management maintains aggressive FY28 targets despite a back-ended H2-heavy execution schedule.

Guidance and delivery
Management target Revenue 20.0% FY27
Highlights
Revenue growthRevenue up 4% YoY; sales value up 10% YoY to ₹484 Cr.
MarginsMuted Q1 margins due to legacy Kolkata projects; expected to improve.
Order bookPipeline of 33.7M sq. ft. with ₹14,000 Cr GDV potential.
Demand visibilityStrong underlying demand in Chennai, Bengaluru, and Kolkata markets.
Management confidenceConfident but cautious; reiterating aggressive multi-year FY28 mission targets.

Growth

Revenue grew 4% YoY; record Q1 sales value of ₹484 Cr, up 10% YoY, driven by new launches.

Outlook

Targeting ₹5,000 Cr sales and ₹250 Cr PBT by FY28; FY27 PBT margin guided at 8-9%.

Risks

Low-margin legacy projects in Kolkata (40% of Q1 units) drag down current profitability; execution is heavily back-ended.

Last quarter's promises, checked

Delivered

  • Targeted FY26 Sales Value marginal increase → delivered ₹2,354 Cr (= BEAT)
  • Targeted FY26 Collection growth → delivered ₹1,661 Cr (12% YoY) (= BEAT)
  • Targeted FY26 Net Profit >₹100 Cr → delivered ₹101 Cr (= BEAT)

Partly delivered

  • Guided FY27 Sales Volume 5-5.5M sq. ft. → Q1 at 0.9M sq. ft. (= PARTIAL)
  • Guided FY27 PBT Margin 10-11% → Q1 currently suppressed by legacy mix (= PARTIAL)

Missed

  • Guided FY26 Presales ₹2,600 Cr → delivered ₹2,354 Cr (= MISS)
Source

Earnings Call Transcript filed with BSE, NSE: SHRIRAMPPS. Summary written with AI assistance from the document.

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Shriram Properties Ltd: key numbers

Share price
₹71.20
Market cap
₹1,215 Cr
Revenue (annual)
₹1,267 Cr
Net profit (annual)
₹100.8 Cr
P/E (TTM)
13.3×Sector 35.8×
Promoter holding
27.89%+0.00% QoQ
FII holding
6.85%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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