Shriram Properties Q2 profit jumps 2.5-fold as total income climbs 19%

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Southern real estate developer Shriram Properties logged a sharp bottom-line expansion in the September quarter, powered by steady revenue growth. With a 33.2 million sq ft…

Realty firm Shriram Properties on Friday reported a 2.5-fold jump in consolidated net profit to ₹21.59 crore for the September quarter.

Total income rose to ₹272.25 crore during the second quarter of this fiscal from ₹229 crore in the corresponding period of the preceding year, according to a regulatory filing.

During the first six months of this fiscal, the company’s net profit increased to ₹32.63 crore from ₹29.16 crore in the year-ago period.

Total income grew to ₹543.29 crore in the April-September period of this fiscal from ₹490.55 crore in the corresponding period of the preceding year.

Also read: Eicher Motors Q2: Profit rises 15% as revenue climbs 20% to record high

Shriram Properties is one of India’s leading residential real estate developers. Its key markets include Bengaluru, Chennai, Pune and Kolkata.

The company has delivered 53 projects with a saleable area of 33.5 million sq ft in the last 26 years. It has a development pipeline of 33.2 million sq ft, including 15.5 million sq ft of ongoing projects.

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