Operational Highlights

SPL reported sales booking of Rs. 2,354 crores (~4.2 million square feet) during FY26, supported by encouraging response to launches and strong sustenance sales across regions. For Q4FY26, sales bookings were Rs. 663 crores (~1.3 million square feet).

Customer collections reached a new high of Rs. 1,661 crores (+12% YoY) in FY26, driven by sustained construction progress and strong handover momentum during Q4. Quarterly collections were up 12% YoY at Rs. 511 crores in Q4FY26.

SPL achieved highest-ever handovers by delivering 3,465 homes/plots in FY26, with 1,300+ homes/plots handed over in Q4FY26 alone. This was achieved despite navigating through eKhata & registration challenges that impacted handovers in 9MFY26.

Financial Performance

Quarterly Performance (Q4FY26 vs Q4FY25)

| Metric | Q4FY26 | Q4FY25 | Change |

| Total Revenues | Rs. 662.7 crores | Rs. 427.5 crores | ▲ 55% |

| EBITDA | Rs. 108.8 crores | Rs. 68.6 crores | ▲ 59% |

| Profit Before Tax | Rs. 87.3 crores | Rs. 42.0 crores | ▲ 108% |

| Net Profit | Rs. 78.5 crores | Rs. 47.7 crores | ▲ 65% |

Annual Performance (FY26 vs FY25)

| Metric | FY26 | FY25 | Change |

| Total Revenues | Rs. 1,356.9 crores | Rs. 973.4 crores | ▲ 39% |

| EBITDA | Rs. 176.8 crores | Rs. 179.4 crores | ▼ 1% |

| Profit Before Tax | Rs. 80.6 crores | Rs. 64.4 crores | ▲ 25% |

| Net Profit | Rs. 100.8 crores | Rs. 77.3 crores | ▲ 30% |

Key Financial Metrics

  • Gross Margins stable at 29%, reflecting strong underlying project profitability
  • Finance costs down 18% YoY to Rs. 86.2 crores in FY26
  • Net Debt at Rs. 438 crores, with debt-equity ratio of 0.30x
  • Operating cashflows of Rs. 271 crores and Free Cash Flow (FCF) before new project investments of Rs. 224 crores in FY26
  • Cash & cash equivalents of Rs. 172 crores as at year-end
  • Invested nearly Rs. 370 crores towards new project investments during the year

Strategic Developments

Business Development

FY26 marked a highly active year with the Company adding 7 new projects with ~3.5 million square feet aggregate development potential and GDV of ~Rs. 3,500 crores. SPL is at an advanced stage of concluding several projects with over 7.0 million square feet development potential, likely during H1FY27.

Kolkata Resolution

FY26 marked an important strategic milestone with the successful resolution of long-pending Kolkata land matters with Government of West Bengal through the conveyance of 42.37 acres of land from its ~314-acre land parcel at Uttarpara, Kolkata.

New Market Entry

SPL successfully forayed into Western India with its maiden launch at Undri, Pune. The company has sold over 300+ units in less than a year of launch, in a micro market that has absorbed only around ~700 units annually in the last 3 years.

Outlook

SPL remains focused on accelerated execution, disciplined capital allocation and stronger delivery momentum to drive revenue and growth. With ~85% of ongoing project portfolio already sold and the remaining area likely to be sold in few quarters, SPL is confident of realizing revenue recognition potential of Rs. 4,000+ crores over the next 3 years.

The company has 18+ million square feet of new projects in the pipeline for launch over the next 3 years and ongoing thrust on business development pipeline addition.

Management Commentary

Mr. Murali M, Chairman and Managing Director of SPL commented: \"FY26 marks a defining year for the Company, demonstrating the strength of our business model, execution capabilities and resilience in navigating external challenges. The strong momentum witnessed in Q4 has continued to strengthen our confidence and outlook for the coming year. Despite ongoing global uncertainties, the Indian residential real estate sector remains resilient and structurally strong. Backed by our strong balance sheet, disciplined execution, customer-centric approach and growing brand strength, we remain excited about the opportunities ahead and confident of creating sustained long-term value for all stakeholders.\"

Company Background

Shriram Properties Ltd (SPL) is one of India's leading residential real estate developers, focused on the mid-market and mid-premium segments. Key markets include Bengaluru, Chennai, Pune and West Bengal. SPL has delivered 50+ projects with over 30.8 million square feet of development, and has a strong development pipeline comprising of 41 projects with an aggregate development potential of 35.3 million square feet, including 16.7 million square feet of ongoing projects, as of March 31, 2026.