Shriram Properties Reports Slump in Quarterly Profits

Shriram Properties, a major real estate company, reported a 30% drop in net profit for the December 2024 quarter. The profit decreased to Rs 12.97 crore from Rs 18.48 crore the previous year. Additionally, total income fell to Rs 179.87 crore, down from Rs 240.57 crore.

Bengaluru-based Shriram Properties announced a significant 30% decrease in its net profit for the December 2024 quarter, amounting to Rs 12.97 crore. This reflects a decline from the Rs 18.48 crore reported during the same period last year.

The company's total income also saw a downturn, dropping to Rs 179.87 crore in the third quarter of the current fiscal year from Rs 240.57 crore in the corresponding period of the previous year, as detailed in their recent regulatory filing.

As one of the leading real estate firms in India, Shriram Properties faces challenges that reflect wider trends in the property sector amid varying economic conditions.

(With inputs from agencies.)