Realty firm Shriram Properties is targeting a 25 per cent growth in sales bookings this fiscal from a record Rs 1,846 crore in the previous year on strong housing demand.
Shriram Properties achieved an all-time high sales booking of Rs 1,846 crore last fiscal, up 25 per cent from Rs 1,482.4 crore in the previous year, driven by higher volumes, better realisation and change in product mix.
The Company is looking at about 20 per cent growth in volume terms and 25 per cent growth in value. Sales volumes of 4.02 million square feet in the last fiscal, which is a new record, as against 3.8 million in 2021-22. The average annual sales realisation grew 8 per cent annually during the last financial year.
Sales volumes of 4.02 million square feet in the last fiscal, which is a new record, as against 3.8 million in 2021-22. The average annual sales realisation grew 8 per cent annually during the last financial year. The company would launch multiple housing projects this fiscal to tap the rise in housing demand, he added.
A consistent growth across all industries is helping the growth of the real estate sector in a phenomenal way, he observed. On the financial performance front, the company's net profit jumped nearly four times to Rs 68.2 crore last fiscal, from Rs 18.03 crore in the previous year.
On the financial performance front, the company's net profit jumped nearly four times to Rs 68.2 crore last fiscal, from Rs 18.03 crore in the previous year. Total income grew to Rs 813.92 crore in the last fiscal, from Rs 517.8 crore in the 2021-22 financial year. Bengaluru-based Shriram Properties, which got listed on stock exchanges in December 2021, is one of South India's leading residential real estate development companies. It had raised around Rs 600 crore through its Initial Public Offer (IPO).
