Operational Performance Q1 FY27

Launches and Sales

  • Three successful launches: two new projects (Kolkata & Chennai) and one new phase launch (Chennai)
  • Highest-ever Q1 sales of ₹484 crores (0.85 million square feet volume)
  • Entered Chennai's premium residential segment with premium offering "Shriram Stellar" at Koyambedu (135 units, ₹320 crores GDV)
  • Successfully launched plots as new product segment in Kolkata ("Shriram Southbrook" - 296 units, ₹130 crores GDV)
  • Strong customer response: ~20% of Chennai project sold during launch week, ~55% of Kolkata inventory sold within 30 days

Collections and Handovers

  • Collections grew 8% YoY to ₹365 crores
  • Handover of 690 units during the quarter
  • Healthy handover pipeline visibility for remainder of FY27
  • Project execution rebounded after temporary state election-related labour movements

Business Development

  • Added one new project (~0.7 msf) with estimated GDV potential of ₹650 crores
  • Projects aggregating over 7 msf progressing towards closure
  • Kolkata monetization gained momentum with successful plot and villa launches

Financial Performance Q1 FY27

Revenue and Profitability

  • Total operating revenues: ₹263.6 crores
  • Other income: ₹7.5 crores
  • Total revenues: ₹271.1 crores (+4% YoY)
  • Cost of revenue: ₹168.3 crores
  • Employee benefit expense: ₹26.9 crores
  • Other expenses: ₹34.0 crores
  • EBITDA: ₹41.9 crores (flat YoY)
  • Finance costs: ₹21.2 crores (interest expense & other finance cost)
  • Depreciation: ₹2.6 crores
  • Profit before tax and share of JVs: ₹18.1 crores
  • Share of loss of JVs: ₹3.9 crores
  • Tax expense: ₹3.2 crores
  • Net profit: ₹11.0 crores

Financial Position

  • Gross external debt: ₹651 crores
  • Cash & cash equivalents: ₹219 crores
  • Net debt: ₹432 crores
  • Total equity: ₹1,471 crores
  • Net debt/equity: 0.29x
  • Cost of debt: ~11+%, backed by A- Positive outlook credit rating from CRISIL

Cash Flow Analysis (Excl. DM & JV cashflows)

  • Operating inflows: ₹229 crores
  • Construction outflows: ₹94 crores
  • Marketing & admin overheads: ₹54 crores
  • Other operating outflows: ₹27 crores
  • Cash flow from operations: ₹54 crores
  • Loan drawls: ₹106 crores
  • Loan repayment: ₹56 crores
  • Net free cash flow: ₹47 crores
  • New project investment: ₹88 crores

Project Pipeline and GDV Potential

Ongoing Projects

  • Project area: 16.0 msf
  • Sold: 13.1 msf
  • Unsold: 2.9 msf with ₹1,970 crores GDV potential

Upcoming Projects

  • Total GDV potential: ₹11,560 crores across 17.7 msf
  • Own: ₹4,910 crores
  • JDA: ₹4,850 crores
  • JV: ₹580 crores
  • DM: ₹1,220 crores

Total GDV Potential

  • 20.6 msf with ₹13,530 crores GDV potential

FY27 Guidance and Outlook

Launch Pipeline

  • ~6 msf new supply planned with new phase launches in existing projects
  • Key upcoming launches:
  • Gateway C Zone, Chennai (0.91 msf) - Q2 FY27
  • Manjari, Pune (2.30 msf, 1.00 msf launch) - Q3 FY27
  • Bannerghatta Road, Bangalore (0.30 msf) - Q3 FY27
  • Multiple Bangalore projects in Q4 FY27 (Yelahanka, Doddagubbi, Sarjapura)

Financial Outlook

  • FY27 KPIs positioned to outperform FY26
  • Revenue momentum expected through second half of FY27
  • Margins to recover during H2 from improved handover project mix
  • Management confident and committed to nearly double upcoming project pipeline in 18-24 months
  • ~₹14,000 crores of revenue to be recognized in 5-7 years

Additional Information

  • Presentation includes disclaimer regarding forward-looking statements
  • Investor contact: Shrikanth D S, AGM - Finance (ir.spl@shriramproperties.com)
  • Strategic advisors: Strategic Growth Advisors Pvt. Ltd.