Realty firm Shriram Properties achieved record sales bookings of Rs 1,846 crore in the previous fiscal year, marking a 25% increase from the previous year. The growth was driven by higher volumes, better realizations, and a change in the product mix. The company is targeting a 20% growth in sales volumes and a 25% growth in value for the current fiscal year. The strong housing demand, particularly in the mid-income and affordable segment, has contributed to the company’s positive outlook.
Shriram Properties plans to launch multiple housing projects in the current fiscal year to tap into the rising housing demand. The company believes that the demand will continue for the next 3-5 years due to favorable macroeconomic conditions and overall stability in the country. The real estate sector is experiencing significant growth, supported by consistent growth across all industries.
In terms of financial performance, Shriram Properties witnessed a substantial increase in net profit, jumping nearly four times to Rs 68.2 crore in the previous fiscal year. Total income also grew to Rs 813.92 crore during the same period.
As a leading residential real estate development company in South India, Shriram Properties focuses on key markets such as Bengaluru, Chennai, and Kolkata, which account for approximately 85% of its development activities. With 36 delivered projects, 26 ongoing projects/phases, and 25 projects in the pipeline, the company aims to capitalize on the positive market conditions and continue its growth trajectory.