Shriram Properties Shows Strong Revenue Growth Amid Strategic Focus

Shriram Properties reported a consolidated net profit of Rs 8.57 crore in Q2 due to higher revenue. The company, overcoming last year's loss, is optimistic about a strong second half and plans to focus on pipeline expansion and execution to boost cash flows and value creation.

Shriram Properties Ltd, a prominent realty firm, announced a consolidated net profit of Rs 8.57 crore for the September quarter, attributed to increased revenue.

In comparison, the company had faced a net loss of Rs 0.79 crore during the same period last year. The company's total income for the second quarter rose significantly to Rs 229.01 crore, up from Rs 155.10 crore in the preceding year, based on a regulatory filing.

Executive Director & CEO Gopalakrishnan J stated that although financial performance was previously muted, a rebound is expected in the second half of the fiscal year due to easing transitionary issues. With a strong launch pipeline and execution strategy, the company is poised to meet full-year targets and bolster value creation.

(With inputs from agencies.)