Shriram Properties Limited (SHRIRAMPPS)

Realty · Realty · NSE · Updated 21 July 2026

₹88.19 ↓ 7.88% (1Y)

🎯 Key Takeaways

Shriram Properties is transitioning from a volatile growth phase to stabilized profitability, marked by record revenue and margins in FY26 after years of operational restructuring. The company has shifted focus from volume-driven expansion to value realization and cashflow discipline, supported by project completions and resolution of legacy liabilities.
Revenue declined 13.8% QoQ to ₹121 in Q3FY25.
⚠️ 1) Margin sustainability is exposed to input cost volatility and pricing pressure in a competitive housing market, despite current 29% gross margins.

Market Cap

₹1,418

P/E Ratio

28.5

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Shriram Properties is transitioning from a volatile growth phase to stabilized profitability, marked by record revenue and margins in FY26 after years of operational restructuring. The company has shifted focus from volume-driven expansion to value realization and cashflow discipline, supported by project completions and resolution of legacy liabilities.

📰 What's Happening

In Q4FY26, the company delivered 3,465 homes and achieved record consolidated revenue of ₹1,357 crores (+39% YoY), driven by strong collections of ₹1,661 crores and robust operational momentum. Net profit reached ₹100.8 crores (+30% YoY), crossing the ₹1 billion threshold for the first time, with gross profit at ₹365 crores (29% margin). Management resolved Kolkata land dues via conveyance of 42 acres, unlocking latent value, and approved new project investments of ₹372 crores funded by ₹271 crores of operating cashflow. For FY27, it targets 7-8 new projects (4.0-4.5 msf GDV) with sales value of ₹3,300-3,500 crores, signaling sustained pipeline execution and monetization focus.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	118	135	2,061	221	302	154	141	121
Operating Profit	45	53	652	39	66	54	13	44
OPM %	-6.7%	23.1%	19.4%	8.7%	3.2%	-2.2%	-0.9%	-12.2%
Net Profit	16	17	202	18	20	17	-1	13
EPS	₹0.90	₹0.98	₹1.18	₹1.08	₹1.19	₹1.02	₹-0.05	₹0.76

After a period of margin compression and inconsistent profitability — evident in Q3FY25’s negative operating margin (-12.2%) and prior quarter losses — the company has reversed course, achieving 29% gross margins and positive net income in FY26. This turnaround is tied to management’s focus on project handover execution, improved collections, and resolution of legacy issues like Kolkata land dues. The shift from high-volume, low-margin activity in FY24 (e.g., ₹2,061 crores revenue in Q2FY24 with ₹652 crores operating profit) to tighter operational control reflects a strategic pivot toward sustainable profitability over scale.

🔮 Management Outlook & What's Next

Management expressed confidence in sustaining momentum into FY27, targeting 7-8 new projects with a combined GDV of 4.0-4.5 million square feet and sales value of ₹3,300-3,500 crores. The guidance underscores a focus on disciplined capital allocation and monetization of the developed portfolio, with no mention of aggressive expansion or margin erosion. The emphasis on cashflow generation and project completions suggests management views the current phase as one of consolidation and value capture rather than reinvestment in new developments.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Realty

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
DLF Limited	1.40 L Cr	35.0	—	—	—
Lodha Developers Limited	84,910	33.5	—	—	—
The Phoenix Mills Limited	62,175	46.0	—	—	—
Oberoi Realty Limited	58,802	22.8	—	—	—
Prestige Estates Projects Limited	57,813	71.4	—	—	—
Godrej Properties Limited	51,630	32.1	—	—	—
Anant Raj Limited	17,569	30.5	10.5%	9.6%	0.10
Brigade Enterprises Limited	16,836	25.1	—	—	—
Sobha Limited	14,942	227.9	—	—	—
Aditya Birla Real Estate Limited	14,430	-62.6	-4.3%	-2.8%	1.52

🔗 Peer Stock Analyses

DLF LODHA PHOENIXLTD OBEROIRLTY PRESTIGE

⚠️ Risk Factors

1) Margin sustainability is exposed to input cost volatility and pricing pressure in a competitive housing market, despite current 29% gross margins. 2) The company’s growth trajectory depends on timely project delivery and land acquisition, which remain subject to regulatory and environmental delays. 3) Ongoing stake reduction by the promoter may signal declining confidence or a strategic shift in control dynamics, potentially affecting investor sentiment.

📋 Recent Filings

🧠 Analyst's Read

Shriram Properties has stabilized after a period of operational and financial volatility, with FY26 marking its first year of record profitability and margin expansion. The key next steps are sustaining this momentum into FY27 and demonstrating consistent execution on project monetization. Investors should monitor new project launches, margin trajectory, and the pace of promoter stake reduction for early signals of strategic direction.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-21.

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