Shriram Properties Q3 sales bookings up slightly at Rs 415 cr

Realty firm Shriram Properties on Tuesday reported a marginal increase in its sales bookings to Rs 415 crore during the quarter ended December.

Its sales bookings had stood at Rs 410 crore in the year-ago period, according to a regulatory filing.

During the first nine months of this fiscal, the total sales bookings crossed the Rs 1,000-crore mark, reflecting a growth of 60 per cent year-on-year.

The company achieved aggregate collections of Rs 900 crore during the April-December period of this fiscal, up 57 per cent y-o-y.

Total collections for the December 2021 quarter was around Rs 337 crore in Q3, up 21 per cent y-o-y.

The company achieved sales volumes of 1.03 million square feet in Q3 FY22, supported by successful launches.

Aggregate sales volumes for the first nine months stood at 2.58 million square feet, up 56 per cent year-on-year.

Shriram Properties launched four new projects, apart from additional phases launched in three ongoing projects, with an aggregate saleable area of over 1.98 million square feet, across its core markets of Bengaluru, Chennai and Kolkata.

''The company is focused on new launches to sustain the growth momentum while unlocking remaining inventories in ongoing projects,'' the filing said.

Its aggregate construction spending nearly doubled to Rs 137 crore in Q3 and stood at around Rs 423 crore in the April-December period of this fiscal.

The company signed definitive documents for four new projects with an aggregate development potential of around 2.3 million sq ft since the filing of the red-herring prospectus in November 2021.

''The company is at an advance stage of negotiation in certain other projects and expects to reach closure and make a formal announcement in due course,'' the filing said.

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