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SHRIRAMPROPERTIES Diversified 14 Feb 2026

Shriram Properties Ltd — Q3 FY26

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.

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Revenue ₹179 Cr +13%
EBITDA ₹13 Cr
PAT ₹-7 Cr
EBITDA Margin -10%
Duration 67 min
Read Time 1 min read

✓ Verified against BSE filing

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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.

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Risk Intelligence

Bangalore registration system instability

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Quarter Snapshot

Sales Volume (9M FY26) 2.86M sq ft
-5% YoY

9-month sales volume slightly lower YoY; Q4 launches expected to boost full-year to ~4.5M sq ft.

Sales Value (9M FY26) ₹1,691 crore
+5% YoY

9-month sales value grew 5% YoY despite lower volumes, reflecting better pricing.

Operating Inflows (9M FY26) ₹787 crore
+27% YoY

Net collections from customers grew 27% YoY, indicating strong cash generation.

Handover Units (9M FY26) 2,170 units
+20% YoY

Handovers grew 20% YoY; Q4 target of 3,200-3,300 units for full year.

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Guidance and risk preview

Top guidance FY26 revenue guidance of ₹1,300-1,500 crore

Management expects full-year revenue in the range of ₹1,300-1,500 crore, driven by Q4 handovers of ~900 units worth ₹800 crore.

Top risk Bangalore registration system instability

The ekata and Kavary 2.0 portal issues in Karnataka continue to delay handovers and revenue recognition, though management says Q4 is more stable.

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