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Revenue
₹179 Cr
verified against source
Revenue YoY
13%
reported change
EBITDA
₹13.1 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Shriram Properties reported Q3 FY26 revenue of ₹203 crore (+13% YoY) and a PAT loss of ₹7 crore, impacted by continued procedural delays in Bangalore's ekata and registration portal. However, 9-month operating cash flow grew 23% YoY to ₹193 crore, and collections rose 27% to ₹787 crore. The key positive was the resolution of the Kolkata land dispute by conveying 42.37 acres to the government, discharging ₹259 crore in liabilities with no cash outflow. Management guided for FY26 revenue of ₹1,300-1,500 crore and PAT of ₹90-100 crore, driven by a strong Q4 handover pipeline of ~900 units worth ₹800 crore. Risks include further Bangalore registration system instability and slower-than-expected Kolkata land monetization.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects full-year revenue in the range of ₹1,300-1,500 crore, driven by Q4 handovers of ~900 units worth ₹800 crore.
- Full-year profit after tax is expected to be between ₹90-100 crore, implying a strong Q4 recovery.
- Revised down from 5.2-5.5 million sq ft due to launch delays; Q4 launches expected to help achieve ~4.5 million sq ft.
- The entire Kolkata site (314 acres) is expected to generate ₹1,500 crore in cash flows from development and monetization over 3-6 years.
Risks flagged
- The ekata and Kavary 2.0 portal issues in Karnataka continue to delay handovers and revenue recognition, though management says Q4 is more stable.
- Management declined to provide a specific timeline for monetizing surplus land, citing dynamic market conditions and product mix decisions.
- With two years left, FY26 sales volumes are flat YoY; achieving 3x revenue and 4x profit by FY28 depends on strong execution and land monetization.
Key quotes
- We believe the slowdown fears seem unfounded. New launches are receiving good traction. Sustainment sales is strong which clearly shows us or demonstrates to us that the customer purchasing is continuing with a good momentum.
- Had the inhaps moved in line with the expectation both top for 9 months would have been meaningfully higher. Since this is only deferment, we remain confident our full year earning.
- We will not do projects if it is less than 25% IRRa in general in Kolkata because it's our existing land. We would imagine IR will be significantly higher at current price points.
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