Shriram Properties reports 46% fall to ₹11.04cr in June quarter
Business
Shriram Properties just reported a 46% drop in net profit for the quarter ended June 30, falling to ₹11.04 crore from last year's ₹20.59 crore.
The company says higher costs and taxes, plus losses from joint ventures, hit its bottom line.
Still, total income nudged up to ₹271.04 crore.
Shriram Properties bookings ₹484cr, up 10%
Even with profits down, Shriram's sales bookings jumped 10% year-on-year to ₹484 crore this quarter.
They've finished 52 projects so far and are working on 41 more across cities like Bengaluru, Chennai, Pune, and Kolkata, with an aggregate development potential of 33.7 million sq ft.
Murali M, Chairman and Managing Director, remains optimistic about sustainable growth, pointing to its strong balance sheet and diverse portfolio.