Shriram Properties Reports Strong Q2 FY25 Performance Despite Handover Delays

Shriram Properties Limited (SPL) has announced its financial results for Q2 and H1 FY25, showcasing robust sales volumes and continued growth despite challenges. In Q2 FY25, SPL recorded sales volumes of 1.03 million square feet (msf), marking a 47% quarter-on-quarter increase, and sales values of Rs. 568 crore. However, the onset of inauspicious periods affected customer decision-making, reflecting muted year-on-year growth.

SPL launched three new projects in Q2: Shriram Serenity in Bengaluru, Shriram Swargam in Chennai, and Shriram Symphony in Kolkata. Although these launches occurred late in the quarter due to approval delays, they are expected to drive growth in Q3 and H2 FY25, with strong customer response so far.

Despite challenges, SPL reported gross collections of Rs. 363 crore in Q2 (+13% QoQ) and a total of Rs. 683 crore for H1 FY25. The company also delivered 580+ units in Q2, bringing total handovers to over 1,100 units in H1. However, regulatory delays impacted revenue recognition and overall performance, deferring approximately Rs. 150 crore in income to Q3/H2.

On the business development front, SPL secured two new projects in Bengaluru with a combined development potential of 0.8 msf and a gross development value of Rs. 500-600 crore. Despite a Q2 net loss of Rs. 0.8 crore, SPL’s net debt remains low at Rs. 407 crore, and cash flows from operations stayed strong.

SPL expects a strong recovery in the second half of FY25, with an enhanced project pipeline and steady revenue recognition. The company aims to continue its growth trajectory, supported by timely project completions, cost control, and a focus on profitability.