Kolkata Legacy Project Margin Drag
Grand One and Sunshine One projects from 2016-17 launches have thin margins (~₹6,500-7,000 psf vs low entry pricing) and continue to impact profitability. These legacy handovers will continue through FY27.
SHRIRAMPPS / Q1-FY27 / risks
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Shriram Properties · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Market Skepticism on Execution
An analyst pointed out that market doesn't trust execution capabilities and stock hasn't reached IPO price levels in four years since listing. Management acknowledged this concern but defended track record.
Bangalore Market Slowdown
Management noted Bangalore launches remain slow and the city takes longer to absorb supply compared to other markets, creating concentration risk in the portfolio.
Revenue Timing Uncertainty
Revenue recognition depends on OC (Occupancy Certificate) milestones which face timing risks. Q1 had limited new projects reaching OC, and back-ended FY27 launches (Q3/Q4) create execution dependency.