Realty firm Shriram Properties reported a 46% decline in consolidated net profit to ₹11.04 crore for the quarter ended June 30, compared to ₹20.59 crore in the year-ago period, according to a regulatory filing. Despite the profit decline, the company's total income rose marginally to ₹271.04 crore in Q1FY27 from ₹261.54 crore in the corresponding period of the preceding year. The profit decline was primarily attributed to higher operational expenses and increased tax outgo during the April-June quarter, as reported by The Economic Times.
On operational metrics, Shriram Properties demonstrated strong performance with sales bookings increasing 10% to ₹484 crore during the first quarter of FY27, as reported by the company. The company also posted a loss in joint venture projects during the quarter, contributing to the overall profit decline. Operational expenses and tax outgo increased significantly during the April-June period, offsetting the positive impact of higher sales bookings.
Murali M, Chairman and Managing Director of Shriram Properties, expressed optimism about the company's performance, stating that they have commenced FY27 on a strong note with robust operational performance and encouraging customer response to new launches across Chennai and Kolkata. According to the company's statement, with a healthy balance sheet, disciplined capital allocation and a diversified project portfolio across Bengaluru, Chennai, Kolkata and Pune, the company remains well positioned to pursue growth opportunities while creating sustainable long-term value for stakeholders.
Shriram Properties maintains a strong presence across Bengaluru, Chennai, Pune and Kolkata, having delivered 52 projects with over 32.9 million sq ft of area in these cities. As of June 30, 2026, the company has a robust pipeline comprising 41 projects with an aggregate development potential of 33.7 million sq ft, including 16 million sq ft of ongoing projects, positioning it well for continued growth opportunities in the real estate sector.
